Intel to layoff over 15,000 employees: Read the memo shared by company’s CEO

Intel has announced to reduce its head count by more than 15% of its workforce, some 15,000 people, to reduce costs. “Our costs are too high, our margins are too low,” the company’s CEO Pat Gelsinger said in an internal memo sent to Intel employees on Thursday. In the letter, Gelsinger also said that the software giant will also announce a companywide enhanced retirement offering for eligible employees and broadly offer an application program for voluntary departures next week.