They're cutting loose the newer, talented, and hard-working employees who actually care about the company's success, while keeping the lazy, incompetent dead weight who have been coasting on their seniority for years.
From what I've seen, they are letting go of the the ones who are actually doing the work and driving innovation, while the senior slackers are just collecting a paycheck and contributing to the company's decline. All Manager Levels Appear to be Aligned in Sabotaging the Company's Future.
It's time for Intel to wake up and realize what's going on, or they'll never recover from this mess."