The problem is not that Intel is cutting back, that can be a valid economic necessity. It's that Intel in that situation still promises dividends and continuously rising ones at that. The latter comes at a huge cost which means Intel will have to cut back well beyond economic necessity, it's not unlike the stocks buyback program Intel had going at a time node development needed much more investment than it got.
So giving up future competitiveness for some short term shareholder profiteering.
Intel is not cutting back...
They are building up, they are increasing their fabs because that's the best investment into the future that any company could do right now.
They are paying dividends because they are still making enough profit to do so, it would be terrible for them to not pay them.
As I have shown before, intel put 12b into fabs and still put 3b into their vault, even with the "terrible" quarters and paying the dividends.
They are not giving up future competitiveness because they are still building everything they set out to build.
The article doesn't show a shred of evidence that the 4b in question have anything to do with the chips fabs, it's just wild speculations in favor of clickbaiting.