Intel to lay off more than 15% of its workforce as it cuts costs to try to turn its business around

Intel to lay off more than 15% of its workforce as it cuts costs to try to turn its business around

2 months ago
Anonymous $genLyrxdTY

https://apnews.com/article/intel-chip-ai-job-cuts-layoffs-loss-e61781e9364b69af63481c34ca5dcd67

Chipmaker Intel Corp. is cutting 15% of its massive workforce as it tries to turn its business around to compete with more successful rivals like Nvidia and AMD.

The Santa Clara, California-based company said Thursday it is also suspending its stock dividend as part of a broader plan to cut costs. The bulk of the layoffs will be completed this year.