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Intel Corp., major Arizona employer, to cut 15% of its workforce

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Intel Corp., major Arizona employer, to cut 15% of its workforce


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Intel Corp., one of Arizona’s largest employers, announced plans to cut about 15% of its global workforce as part of a massive restructuring triggered by weak financial results.

Intel, headquartered in Santa Clara, California, currently ranks as Arizona’s 11th-largest nongovernmental employer, with 13,000 employees as of last year’s Repubic 100 special report. 

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The company announced the cuts, designed to save $10 billion, after the stock market closed Thursday.

It was not immediately clear how the cuts would affect its Chandler operation.

“Simply put, we must align our cost structure with our new operating model and fundamentally change the way we operate. Our revenues have not grown as expected – and we’ve yet to fully benefit from powerful trends, like AI. Our costs are too high, our margins are too low,” Intel CEO Pat Gelsinger said in a note to employees Thursday.

“We need bolder actions to address both – particularly given our financial results and outlook for the second half of 2024, which is tougher than previously expected.”

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He said the company would offer a companywide “enhanced retirement offering” for eligible employees and an application program for voluntary departures. 

Intel received up to $8.5 billion in federal grants as part of a preliminary agreement announced by President Joe Biden and Commerce Department officials during a visit to Arizona on March 20. The funding was earmarked to rebuild America’s technological leadership in semiconductors. The government could make up to $11 billion in loans available as well, plus a federal investment tax credit of up to 25% of certain expenses.

The agreement called for construction of two new leading-edge logic fabs and modernization of one existing fab at Intel’s Chandler campus. That would significantly increase leading-edge capacity, including high-volume domestic production of Intel 18A, the company’s most advanced chip design.

Intel has operations in Arizona, Oregon, New Mexico and Ohio in the U.S. and in countries around the world.

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This is a developing story. Return to azcentral.com for updates.



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Arizona

Cardinals TE Named Top Fantasy Football Value

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Cardinals TE Named Top Fantasy Football Value


ARIZONA — The Arizona Cardinals could potentially be a gold mine of fantasy football value in 2024.

Few eyes are targeting players in the desert, and perhaps that’s understandable given the team’s recent 4-13 record. We also haven’t seen a fully healthy Kyler Murray take the field for an entire season under OC Drew Petzing, either.

Still, Murray’s return halfway through the 2023 season gave hope that something special could be brewing.

Now, it feels like the Cardinals have ample weapons in both pass and run phases of the offense – and when it comes to fantasy football players looking for value – NFL.com’s Matt Okada says you won’t find a better tight end than Trey McBride:

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“To be clear, I’m OK with McBride being the TE3, below Travis Kelce and Sam LaPorta … I’m just happy to take him a round earlier than he’s going in drafts (around the seventh pick of Round 4 right now),” he wrote.

“Why? Well let’s look at what he did after Kyler Murray ‘s return to the field in Week 10 last season: 8.3 targets per game, 67.3 receiving yards per game, 14.9 fantasy points per game.

“If McBride ‘s numbers with Murray were projected to a full season, that would translate to 140 targets, 113 catches, 1,143 yards and four touchdowns — which would have made him the TE1 in 2023.

“Granted, I expect the raw target volume to drop a bit with the arrival of rookie receiver Marvin Harrison Jr., but McBride will still be in the top three at the position in that category, and the quality of his opportunities could increase, with Murray healthier and Harrison demanding attention from opposing defenses.

“Locking up an elite tight end is huge in fantasy, and you can feel confident reaching several spots on McBride to do so.”

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McBride was undoubtedly the top weapon for Murray last season, though the presence of Harrison likely changes that.

It’s a crowded room of pass catchers in Arizona, though McBride simply is too good for Murray to ignore.

“This is the first time I’ve came into a room and kind of had that respect that I can play, and it just makes me want to work harder,” McBride said earlier this offseason.

“[It] really brings fuel to me. It’s something that I really love to do and I’m super excited for. Now, it’s just fine tuning and making sure that that the other guys in the room can do the exact same.”



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Though COVID cases are on the rise, Arizona schools will stay in session

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Though COVID cases are on the rise, Arizona schools will stay in session


PHOENIX (AZFamily) —It’s that time of the year, back to school.

Some districts have already started classes, and the largest school district in the state, Mesa Public Schools, begins August 1.

There is currently a surge in COVID cases right now according to the Arizona Department of Health Services but the State Superintendent of Education says schools will continue to operate normally.

Earlier this year, the CDC ended its previously recommended 5-day isolation period for those who test positive for COVID.

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Now, they recommend treating COVID the same as the flu or RSV.

This means staying home for 24 hours after your fever breaks.

This change is something State Superintendent of Education Tom Horne supports.

“It was a huge mistake in my opinion to close schools. The academic damage was horrendous. We are still experiencing the consequences of it,” Horne said.

Horne is addressing concerns about a recent surge in COVID cases in Arizona as students are heading back to school to start the academic year.

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“I think some students will be handicapped permanently as a result of not being able to go to school during that time. So if anybody talks about closing school I will fight it as hard as I can,” Horne said.

Horne says he feels students are still making up for lost time after schools transitioned to virtual learning when the pandemic reached its peak.

So, he says his goal is to keep kids in the classroom.

But what if they get sick?

“If a student has anything, has a normal cold, we urge them to stay home so they get the proper rest and so they don’t infect other students,” Horne said.

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Horne is citing the CDC’s new recommended guidelines that treat COVID like any other respiratory virus and says students should not be at school if they are sick.

“We do not want the patients to return to school or to work until their fever has resolved and they have been without a fever for 24 hours,” said Dr. Wassim Ballan, an Infectious Disease expert at Phoenix Children’s.

Ballan says the recommendations are now in line with those for any respiratory infection.

But says if you have symptoms of a virus it’s still important to get tested.

“That will be helpful for multiple reasons, number one the knowledge of what the disease is and what the expectation should be and that also helps to protect some vulnerable people the patient might be around,” Ballan said.

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Though the five-day isolation period is not recommended, the CDC still encourages masking in public for up to ten days after someone is diagnosed with a respiratory illness to help fight the spread.

Ballan says it’s not confirmed yet, but there will likely be an updated COVID vaccine this fall, similar to how we see new flu shots every season.

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Vance spoke in Arizona in first visit to the state since nomination

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Vance spoke in Arizona in first visit to the state since nomination


PHOENIX – Republican Vice President candidate JD Vance made a trip to the Valley on Wednesday, his first since being named former President Donald Trump’s running mate.

The United States senator for Ohio spoke at a rally in Glendale at Arizona Christian University on Wednesday. Vance greeted the crowd of about 1,000 by telling them the path to Trump’s reelection starts in Arizona.

Vance spoke for about half an hour and addressed issues at the border and with immigration. The vice presidential candidate promoted the campaign’s promises to lower prices of food and housing, bring back manufacturing jobs and restore Americas dominance in energy and low taxes.

“In just a few months, Arizona is going to lead a great American restoration,” Vance said.

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Throughout the speech, Vance returned to the campaign’s promises to close the border and stop drug cartels from bringing in drugs like fentanyl into the United States. He challenged Vice President Kamala Harris on her history with border issues, including an accusation that Harris and President Joe Biden of purposefully allowing illegal immigrants into the country.

“They might as well have sent hand drawn invitations to millions of illegal immigrants all over the world, including by the way, violent criminals and terrorists,” Vance said.

As part of his trip to Arizona, Vance will be visiting the Arizona-Mexico border on Thursday.

Vance also targeted Harris at the beginning of his speech, accusing her of being a “phony” and alleging that her bid for presidency is a coup.

Vance’s time at ACU was scattered with various guest speakers, first introducing Kari Lake and congratulating her on her primary victory as the Arizona Republican nominee for U.S. senator.

In her time on stage, Lake spoke on how Vance was one of the first people to support her decision to run for the U.S. Senate. Lake told the story of Vance encouraging her to run because she would resist “the swamp.”

“I want to go there [Washington D.C.] and be a senator much like Senator Vance has been, somebody who votes for America first policy, even if he is getting the stink eye from the swampier people in the swamp,” Lake said.

Sara Workman, an Arizona mother who spoke at the Republican National Convention, was also called up by Vance to talk. She talked at the RNC about the financial struggles she faces along with the drug epidemic.

On Wednesday, Workman called this election “a battle between good and evil.”

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Other Arizona Republican politicians were highlighted in his speech, including Paul Gosar, Debbie Lesko and Andy Biggs.

In between chants of “USA!” and “Trump, Vance,” he promised that Trump’s presidency would rebuild American factories and put a stop to environmental focused projects.

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