September 8, 2024 10:40 pm
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Intel to slash workforce

By Pete Danko | Phoenix Business Journal

Intel Corp., one of the Valley’s largest employers, said it would cut more than 15% of its workforce and then reported another quarter of poor results Thursday afternoon, including a $1.6 billion loss.

Intel CEO Pat Gelsinger posted a public letter to employees that said about 15,000 jobs would be lost. Those job cuts and other cost-saving measures amounted to “some of the most consequential changes in our company’s history,” he wrote.

Read the full subscription story from the Phoenix Business Journal.

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