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.
The Senate on Saturday blocked an amendment that would ban transgender athletes from playing in women's sports, rejecting one of President Trump's priorities as he pressures Congress to act on a broad voting bill.
Robert Mueller, a former FBI director who led the investigation into allegations of Russian meddling in the 2016 election, has died, multiple sources told CBS News on Saturday. He was 81. In:
Kendra Duggar was arrested for misdemeanor charges including endangering the welfare of a child and false imprisonment, according to online records. The charges come a day after her husband Joseph Duggar was charged with molestation. In:
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The NCAA accused online sportsbook DraftKings of trademark infringement associated with the association's men's and women's basketball tournaments and filed a complaint in federal court seeking an emergency restraining order. In:
Airport delays continue to worsen as a bill to fund the Department of Homeland Security failed to advance in the Senate Friday. In:
Five people who were charged in connection to the Feeding Our Future scheme pleaded guilty to wire fraud this week. In:
Actor Nicholas Brendon, best known for his role as Xander Harris in the popular television series "Buffy the Vampire Slayer," has died, according to his family. He was 54. In:
Washington — The Trump administration has been strategizing methods and options to secure or extract Iran's nuclear materials, according to multiple people briefed on the discussions, as a U.S.-Israel-led military campaign against Tehran enters a more uncertain phase. In:
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A federal judge has struck down some of the Defense Department's strict controls on how journalists with access to the Pentagon are allowed to report — ending a policy that caused many news outlets to leave the Pentagon. In:
A jury has found Elon Musk liable for misleading investors by deliberately driving down Twitter's stock price in the tumultuous months leading up to his 2022 acquisition of the social media company for $44 billion. But it absolved him of some fraud allegations, finding that he did not "scheme" to mislead investors. In: