The worst news to come out of Intel’s second quarter financial results was that it would be cutting roughly 15,000 jobs, or 15% of its global workforce.
Shares in Intel Corporation (ticker: INTC) are trading sharply lower in premarket this morning after the chip giant posted disappointing Q2 earnings yesterday, as well as announcing a massive round of layoffs to get its costs under control. As of the time of this writing, Intel shares are down over 20% in premarket trading.
