Intel is slashing 15 percent of its staff as part of a $10 billion plan to reduce costs

MARKET NEWS — Intel is slashing 15% of its staff as part of a $10 billion plan to reduce costs, the tech company announced in its second- quarter earnings Thursday. “Simply put, we must align our cost structure with our new operating model and fundamentally change the way we operate,” CEO Pat Gelsinger wrote in a memo Thursday. “Our revenues have not grown as expected — and we’ve yet to fully benefit from powerful trends, like AI. Our costs are too high, our margins are too low.”... cnn.com