Getty ImagesUS chip-maker Intel has said it plans to cut more than 15,000 job cuts as it seeks to revive the business and catch up with competitors.
Shares in the company plunged by up to 20% after it announced the measures, and also reported falling sales.
The news from Intel also hit other shares in other tech giants, and contributed to a sharp fall in Asian stock markets.
Japan’s Nikkei share index closed down 5.8%, the largest percentage fall since March 2020 at the start of the pandemic, with Japanese tech firms among the biggest losers.
The Nikkei ended the day down 2,216.63 points at 35,909.70, the second-biggest points drop in its history, with worries about the strength of the US economy also affecting stocks.
A downbeat survey of US manufacturing firms triggered fears the economy is weakening, and has increased interest in the latest US jobs…
