Intel, the multinational technology company, has announced plans to lay off 15,000 employees, which amounts to 15% of its workforce, as part of a global restructuring aimed at cutting costs.
According to reports, the layoffs are expected to be completed by the end of 2024 and will reduce spending by $10 billion USD in 2025. This comes after a disappointing report about their earnings in the second quarter of 2024.
The report further mentions that Intel is suspending its shareholder dividend starting in the fourth quarter of 2024 and will offer applications for a voluntary departure program to employees starting next week.
