Intel is reeling from losses due to a steep decline in chip sales concurrent with growing competition from rival manufacturers in the semiconductor industry.

Silicon Valley's Intel announced it will begin a new round of layoffs from its Folsom campus in November. Folsom, which is just east of Sacramento, is one of the fastest-growing California cities, and tech jobs are a big reason for it.

10/23: Startup Pitch Workshop. Startup Folsom, in collaboration with StartupSac, and Startup Grind Sacramento are offering a workshop to help entrepreneurs hone their pitches. Online at 5:30 p.m.

Multiple teams at Meta were hit by layoffs on Wednesday, the company confirmed in a statement to TechCrunch, noting these changes were made to reallocate resources within the company. The layoffs appear to have hit employees working on Threads,