Chipmaker Intel to slash 15% of its workforce amid Q2 losses and lackluster forecast
CBSN
Chipmaker Intel Corp. is cutting 15% of its massive workforce 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 stock dividend as part of a broader plan to cut costs. The bulk of the layoffs will be completed this year.
Intel reported a loss for its second quarter along with a small revenue decline, and it forecast third-quarter revenues below Wall Street's expectations.
Washington — The Supreme Court on Wednesday allowed Virginia to move forward with its removal of roughly 1,600 alleged noncitizens from its voter rolls just days before the 2024 election.
The U.S. economy grew at a 2.8% annual pace last quarter as consumers continued to open their wallets despite elevated interest rates.
Hollywood's latest hits are setting this year's Halloween costume trends.
A journalist was shot dead Tuesday night in western Mexico, a local prosecutor's office said, in a part of the country hit hard by drug cartel violence.
A New York woman has a beef with restaurant chain Subway.
Vice President Kamala Harris and former President Donald Trump have different stances on health care policy in America, although in the 2024 presidential election, health care has not played as prominent a role in the campaign as it did in 2016 or even in 2020. In those campaigns those on the left proposed a radical overhaul of Obamacare, while Republicans sought to repeal it.
In a tight presidential race in which Americans cite the state of the economy as the most important issue, one aspect of the country's performance could prove decisive: How voters in battleground states currently perceive inflation.
President Biden reinserted himself into the contentious campaign to succeed him, appearing to call former President Donald Trump's supporters "garbage" on a video call with Latino activists Tuesday evening. Republicans seized on the comments, while the White House offered a different explanation of what Mr. Biden said.
An Alabama man who left threatening phone messages for Fulton County District Attorney Fani Willis and the county sheriff last summer because he was angry over an investigation into former President Donald Trump was sentenced Tuesday to nearly two years in federal prison.
Washington — Vice President Kamala Harris on Tuesday night will deliver her closing argument against former President Donald Trump at the same site he encouraged his supporters to "fight like hell" on Jan. 6, 2021, before they marched to the U.S. Capitol and tried unsuccessfully to halt the certification of President Biden's victory.
A Brazilian au pair who fell in love with an IRS agent pleaded guilty to manslaughter on Tuesday in what prosecutors say was an elaborate double-murder scheme to frame another man in the stabbing of his wife.