Intel’s massive job cuts come after it received $8.5 billion in taxpayer money

Months after the federal government gave Intel $8.5 billion in grants to help bring back chipmaking to the U.S., the company said it is cutting 15% of its workforce, which translates to around 17,000 jobs. The tech company announced the job cuts as part of a massive cost-cutting and restructuring plan. "This is an incredibly hard day for Intel as we are making some of the most consequential changes in our company’s history," Intel CEO Pat Gelsinger said in a note to employees this week. "Simply put, we must align...