November 05, 2024 16:13 (IST)
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Intel to lay off about 17,500 employees to cut $20 bn in expenses

Intel to lay off about 17,500 employees to cut $20 bn in expenses

California/IBNS: American tech major Intel Corporation announced Thursday (Aug 1) that it will slash more than 15 percent of its workforce in a cost-saving move, following which the company's share price plunged 20 percent in extended trade, losing more than $24 billion in market value.

Intel planning to cut thousands of jobs in cost-saving move: Report

Intel planning to cut thousands of jobs in cost-saving move: Report

California/IBNS: American tech major Intel Corporation is likely to announce layoffs for thousands of employees as early as this week, Bloomberg reported, citing sources in the know.