Intel is set to cut 200 jobs from its UK workforce, the company said in a statement today.
The move comes as Intel continues to lose its lead in the race to build chips for the next-generation of Intel chipsets.
The move is a further blow to the company’s sales and profits in the UK, with the company set to report a loss of £3.3 billion in 2019.
Intel said that it would continue to support the UK market with its research and development programmes and that it expects to have “up to 800 staff” at its UK HQ in Oxfordshire, the statement said.
Intel is also planning to cut the number of its UK manufacturing facilities, the firm said.