Intel shares slid 12% in extended trading on Thursday after the chipmaker said Thursday it would lay off over 15% of its employees as part of a $10 billion cost-reduction plan and reported lighter results than analysts had envisioned. Intel also said it would not pay its dividend in the fiscal fourth quarter of 2024.

2164837676

Reuters

United Kingdom

Intel to cut 15% jobs, suspend dividend in turnaround push

The job cuts come in the heels of a disappointing quarter and forecast for the iconic chip maker founded in 1968 at the start of the PC revolution.

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News18 India

Mukesh Ambani

India

Intel Lays Off 15,000 Employees, Aims to Revive Its Business and Compete with Rivals

Intel said on Thursday it would cut 15% of its workforce and will suspend its dividend in the fourth quarter as the chipmaker pursues a turnaround centered around its loss-making manufacturing business.

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The Woodbridge Company

Intel layoffs: Pat Gelsinger revealed that the company plans to deliver $10 billion in savings by 2025.

Hindustan Times

HT Media

New Delhi

Delhi

Intel lays off 15,000 employees. CEO says ‘painful but more tough days ahead’

Chipmaker Intel Corp. is cutting 15% of its massive workforce as it tries to turn its business around to compete with more successful rivals like Nvidia and AMD

abc News

The Walt Disney Company

United States

Intel to lay off more than 15% of its workforce as it cuts costs to try to turn its business around

Intel is slashing 15% of its staff as part of a $10 billion plan to reduce costs, the tech company announced in its second-quarter earnings Thursday.

Warner Bros. Discovery

Atlanta

Fulton County

Georgia

Intel lays off 15% of its staff and its stock tumbles as it struggles to turn around its ailing business

Intel plans to eliminate thousands of jobs to reduce costs and fund an ambitious effort to rebound from an earnings slump and market share losses.

Irish Independent

Mediahuis

Ireland

Intel plans to cut thousands of jobs to reduce costs and fund turnaround – Bloomberg

Intel revealed drastic plans to slash its employee headcount and capital spending in an attempt to put its business back on a stable financial footing, as it...

NZ Herald

New Zealand Media and Entertainment

Auckland

New Zealand

Intel shares fall 20% on plans to cut 15,000 jobs

According to the CFO, Dave Zinsner, the job cuts are necessary “to take us to a place where we have a more sustainable model for the business in the future.” Intel shares fell more than 19% after disclosing a series of alarming news, including a grim growth forecast and plans to cut 15,000 jobs, which is the latest sign that the chip maker is ill-equipped to compete in the era of artificial intelligence.
Sales for the current quarter will amount…

Segundo o CFO, Dave Zinsner, os cortes de empregos são necessários "para nos levar a um lugar onde tenhamos um modelo mais sustentável para o negócio no futuro" As ações da Intel caíram mais de 19% após divulgar uma série de notícias alarmantes, incluindo uma previsão de crescimento sombria e planos para cortar 15.000 empregos, o que é o mais recente sinal de que a fabricante de chips está mal equipada para competir na era da inteligência artifi…

Intel vai cortar 15 mil postos de trabalho e suspender pagamento de dividendos a partir do 4º trimestre

Globo

Roberto Irineu Marinho

Brazil

Intel will cut 15,000 jobs and suspend dividend payments starting in the 4th quarter

By Ramishah Maruf and Nathaniel Meyersohn, CNN New York (CNN) — Intel is slashing 15% of its staff as part of a $10 billion plan to reduce costs, the tech company announced in its second-quarter earnings Thursday. “Simply put, we must align our cost structure with our new operating model and fundamentally change the way we operate,” CEO Pat Gelsinger wrote in a memo Thursday. “Our revenues have not grown as expected — and we’ve yet to fully bene…

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Intel announces plan to cut 15,000 jobs to ‘resize and refocus’ business

Intel announces plan to cut 15,000 jobs to ‘resize and refocus’ business

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