Intel to cut 15% of headcount, reports quarterly guidance miss

Intel CEO Pat Gelsinger holds a sample of a wafer during his keynote speech at the Computex conference in Taipei on June 4, 2024.Intel shares slid as much as 14% in extended trading on Thursday after the chipmaker said it would lay off over 15% of its employees as part of a $10 billion cost-reduction plan and reported lighter results than analysts had envisioned. Intel also said it would not pay its dividend in the fiscal fourth quarter of 2024.Here's how the company did, compared to LSEG analyst expectatio ...