Reported 2 months ago
Intel announced it will cut over 15,000 jobs, representing more than 15% of its workforce, as part of a $10 billion cost-reduction strategy after reporting a net loss of $1.6 billion in Q2. CEO Pat Gelsinger expressed the challenging nature of this decision, citing the company's significant operational changes. In addition to layoffs, the plan includes distinct financial reporting for its product lines, amidst ongoing competitive struggles in its foundry operations.
Source: ENGADGET