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Intel to cut more than 15% of workforce as it cuts costs to try to turn chip business around

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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.

BARBARA ORTUTAY AP Technology WriterStream local breaking news and original programming, live 24/7, from ABC7 Bay Area.

Intel reported a loss for its second quarter along with a small revenue decline, and it forecast third-quarter revenues below Wall Street's expectations.SF's Saks Fifth Avenue shifting to 'appointment-only' shopping, announces layoffs, report says

 

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Intel to cut more than 15% of workforce as it cuts costs to try to turn chip business aroundChipmaker 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 dividend as part of a broader plan to cut cost. The bulk of the layoffs will be completed this year.
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