Intel shares sink with 15% of workforce getting axed, suspends dividend

Intel stock hit the skids after announcing it will slash nearly 17,000 workers and pause its dividend as part of a sweeping cost-cutting plan. The chipmaker plans to "resize and refocus" its 116,500 workforce in an effort to save $10 billion to combat challenging trends. Intel shares fell nearly 20% in extended trading Thursday. "Clearly market conditions, some were good and some not so good, and you have to adjust the financial envelope appropriately," Gelsinger said in an interv