Chipmaker Intel to cut 15,000 jobs

Intel has announced it plans to cut 15% of its workforce (AP Photo/Richard Drew, File)

Chipmaker Intel says it is cutting 15% of its workforce — about 15,000 jobs — as it tries to turn its business around to compete with more successful rivals like Nvidia and AMD.

In a memo to staff, Intel Corp chief executive Pat Gelsinger said the company plans to save 10 billion dollars in 2025.