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The Guardian - US
The Guardian - US
Technology
Guardian staff and agencies

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

Intel Corporation
A blue and white logo reading 'intel' is displayed in an office, with people standing in the background
Intel logo displayed at a temporary office during the World Economic Forum 2022. Photograph: Arnd Wiegmann/Reuters

Intel, the chipmaker, has announced plans to cut more than 15,000 jobs as it tries to cut billions of dollars in costs and turn its business around to compete with more successful rivals.

Shares in the company sank 19% as a string of leading technology stocks came under pressure on Thursday following a fresh batch of lackluster earnings that contributed to a sell-off on Wall Street.

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