Intel to cut 15 percent jobs, suspend dividend in turnaround push; shares plummet

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The chipmaker pursues a turnaround focused on its money-losing manufacturing business.

Intel to cut 15 percent jobs, suspend dividend in turnaround push; shares plummet
Intel said on Thursday it would cut more than 15 percent of its workforce, some 17,500 people, and suspend its dividend starting in the fourth quarter as the chipmaker pursues a turnaround focused on its money-losing manufacturing business. It also forecast third-quarter revenue below market ...

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