Intel to cut at least 15% of workforce as part of $10 billion in cost-cutting

Intel announced it is laying off more than 15% of its workforce after a disappointing earnings report.'Our costs are too high, our margins are too low,'Intel C

Intel announced it is laying off more than 15% of its workforce after a disappointing earnings report.

Intel posted a second-quarter revenue of $12.8 billion, down 1% year over year, with a net income loss of $1.6 billion. Last quarter, its net income loss was $437 million.

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