Santa Clara-based chipmaker Intel plans to lay off tens of thousands of more employees by the end of the year and introduce a mandatory return-to-office, its CEO announced. In a letter to all company employees posted Thursday,

Intel Corp. is shedding thousands of workers and cutting expenses as its new CEO works to revive the fortunes of the struggling chipmaker that helped launch Silicon Valley but has fallen behind rivals like Nvidia Corp. and Advanced Micro Devices Inc.