Santa Clara based Intel has announced a major round of layoffs. The chipmaker announced today it plans on cutting 15% of its workforce. This comes as the company tries to make inroads against some of its more successful rivals including like NVIDIA and AMD.

Today on "The State, of California," KCBS Radio's Patti Reising and Bret Burkhart were joined by Russell Hancock, President and CEO of Joint Venture Silicon Valley.