Does this mean PC prices and component prices will drop?

I'd gladly build/buy a new PC if GPU prices were reasonable. So blame Nvidia.

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They cut employees to cut production, which means keeping a smaller backlog and thus keeping the prices stable because “scarcity”, just like OPEC does with oil.

All Intel.employees are not factory workers ,they have a huge R&D budget mostly high end tech engineers

Infact intel has been doubling down on its manufacturing capabilities and expects to invest billions into its chip plants over the next decade

Reading the article they mention cuts in the sales departments too.

I know of the supposed new factories but those take years to physically build, so whatever. I doubt they’d keep the factory workers idle until the plants are completed.