Intel is laying off over 15,000 people to help with a $10 billion cost reduction plan

Yesterday, we reported on speculation that Intel would soon layoff thousands of employees to try and cut costs. Now, we have confirmation thanks to a second-quarter financial report from Intel, we can see the extent of their cost reduction plans.

More than 15,000 jobs will be lost to try and reduce costs by $10 billion, both of which are staggering figures. Intel says it will stop "non-essential work" throughout this, instead focusing on whatever it deems to be important.

Which probably consists of making chips that don't work properly. Both the 13th and 14th generation of Intel processors have been heavily criticised for being faulty, but the company isn't backing down on making more and they won't promise to fix those that are broken. In short, things just aren't looking good for Intel right now.