Intel to cut 15,000 jobs after 'disappointing' second quarter results

Intel plans to cut 15,000 jobs, or about 15 percent of its workforce, CEO Pat Gelsinger said in a note to employees Thursday. 

The mass layoffs come amid an effort to deliver $10 billion in cost savings in 2025, after the chipmaker posted “disappointing” second quarter results. 

“This is painful news for me to share,” Gelsinger said. “I know it will be even more difficult for you to read. This is an incredibly hard day for Intel as we are making some of the most consequential...