A number of high-profile technology companies have announced job cuts this summer as the industry faces rapid change.

Chipmaker Intel is planning to fire over 5,500 employees across various states in the United States, according to filings made by the company.

Intel has decided to slash well over 700 Bay Area jobs in July as the longtime chipmaker embarks on a restructuring it hopes will create a more nimble company. The tech company filed a new WARN letter with the state’s labor agency that sketches out plans for 736 job cuts in Santa Clara at several locations at or near the company’s headquarters.