Hibapress
American semiconductor giant Intel announced on Thursday that it would lay off more than 15% of its staff by the end of the year.
The operation is part of a major social plan to reduce its costs by $10 billion, the company said in a statement. The company had nearly 125,000 employees at the end of 2023. The number of people affected is 18,000.
Lagging behind its competitors in chips adapted to generative artificial intelligence (AI), the American group published net losses of 1.6 billion dollars in the second quarter, instead of 1.5 billion in net profit a year ago.
While the rest of the industry is investing heavily in advanced electronic components, Intel plans to cut its capital spending by more than 20% for the full year, to between $25 billion and $27 billion.
It also announced that it would not pay a dividend at the end of the year.
Its shares were down more than 19% in electronic trading after the close of trading on the New York Stock Exchange.
