Chipmaker Intel to cut 15,000 jobs as tries to revive its business and compete with rivals

AP Technology Writer

Chipmaker Intel says it is cutting 15% of its massive workforce — about 15,000 jobs — as it tries to turn its business around to compete with more successful rivals like Nvidia and AMD. The Santa Clara, California-based company said Thursday it is also suspending its dividend as part of a broader plan to cut cost. The bulk of the layoffs will happen this year. Intel also reported a loss for its second quarter along with small revenue decline — and forecast third-quarter revenue below Wall Street’s expectations.