Former Intel CEO Pat Gelsinger, who suddenly resigned from his position, took to social media to encourage his supporters to pray and fast on behalf of thousands of Intel employees as layoffs increase.

Former Intel CEO Pat Gelsinger took to social media to invite people to pray and fast for the chipmaker's employees, saying the company is going through a "difficult period."

Shake up in Silicon Valley. Intel CEO Pat Gelsinger announces immediate retirement with the company naming two interim co-CEOs to lead the chipmaker. He started at Intel in 1979 and was its first chief technology officer.

David Zinsner and Michelle Johnston Holthaus were named interim co-leaders after the boomerang executive, who returned to the company in 2021, left the top job.

Zinsner is executive vice president and chief financial officer at Intel. Holthaus was appointed to the newly created position of CEO of Intel Products, which includes the client

CEO Pat Gelsinger stepped down on Dec. 1 after nearly four years in the top job. While the press release officially described his departure as a retirement, he was given two options: step down or be fired.

Intel Corporation's future success relies on technological advancements, strategic partnerships, and government support. Read more on INTC stock update.