Over 1,000 employees have left Intel Israel as the company faces a liquidity crisis and implements a global streamlining plan. The layoffs have caused frustration among remaining employees due to a lack of transparency and a drawn-out process. The company's share price has fallen 50% since the start of 2024, and losses in the last quarter reached $1.6 billion. Intel Israel's layoffs began later than in other locations and affected 15-20% of its development employees. The overall number of employees at Intel Israel will fall below 10,000 for the first time in a decade.
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