Intel plans to lay off 15% of its workforce and cancel billions in new chip facility projects in Europe as part of a strategy shift aimed at reviving its business. The company will concentrate on the competitive AI chip market, regain market share in personal-computer processors, and advance its 14A technology for major clients.

Intel's CEO Lip-Bu Tan is experiencing tensions with some board members regarding strategic decisions, including whether to remain in manufacturing. His attempts to secure capital and pursue an AI acquisition have reportedly been hindered by board disagreements, which have intensified with Donald Trump's involvement.

The article discusses a letter from Intel's CEO to employees, addressing the company's current challenges and outlining strategies for improvement and innovation. It emphasizes the importance of collaboration, adaptability, and a renewed focus on core values to navigate the competitive landscape of the technology industry.