Intel is set to lay off between 15% and 20% of its global workforce, with the manufacturing sector, particularly the "Intel Foundry Services" division, bearing the brunt of the cuts. The anticipated number of job losses surpasses 10,000 employees, with Oregon being the hardest-hit state. The company is grappling with various challenges, including waning sales, intensifying industry competition, and delays in the launch of AI chips. Despite a short-term surge in share prices, investors remain skeptical about Intel's long-term competitive edge. To navigate these current challenges, Intel must strike a delicate balance between cost reduction and technological advancements.