00:00Intel shares dipped by over 20% following the announcement of its plans to slash its workforce and capital spending.
00:07The U.S. chipmaker also eliminated its dividend and revealed an unexpected reversal in its rapidly increasing capital spending,
00:15with this year's investment likely to be 20% less than anticipated.
00:19Moreover, in an effort to streamline operations, the company announced it will lay off more than 15% of its personnel.
