Intel CEO Pat Gelsinger says 15,000 job cut is painful but necessary for 'a new era of growth'. Read full letter here

Intel Layoffs: Intel revealed plans to reduce its workforce by 15%, translating to approximately 15,000 roles, to manage costs better. CEO Pat Gelsinger emphasized the need for the company to align its cost structure with its new operating model. Enhanced retirement offerings and voluntary departures will be announced next week.