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Intel announces plan to cut 15,000 jobs to ‘resize and refocus’ business

  • Intel Corp. Will cut 15% of its workforce, approximately 15,000 jobs, to compete with rivals Nvidia and AMD.
  • This decision is part of a $10 billion plan to reduce costs, announced during its second-quarter earnings.
  • Intel also reported a second-quarter loss and forecasted third-quarter revenues below Wall Street expectations.
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Irish Independent broke the news in Ireland on Tuesday, July 30, 2024.
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