What you need to know
- Chip giant Intel is laying off 15,000 jobs as part of a $10 billion cost-saving plan.
- CEO Pat Gelsinger revealed the news in a memo to staff today, describing the cuts as "the most consequential" in the company's long history.
- Intel has faced incredibly tough competition from rival chip makers, as NVIDIA and others increasingly dictate the market's flow.
- Intel has struggled to find growth in an era increasingly dominated by server tech, GPUs, and AI trends.
