News Formal

Intel to cut more than 15% of workforce as it cuts costs to try to turn chip business around

  • 📰 ksatnews
  • ⏱ Reading Time:
  • 19 sec. here
  • 5 min. at publisher
  • 📊 Quality Score:
  • News: 21%
  • Publisher: 53%

U.S. News News

Technology,World News,Business

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.

FILE - The symbol for Intel appears on a screen at the Nasdaq MarketSite, on Oct. 1, 2019 in New York. Intel Corp. Intel reports earnings on Thursday, Aug. 1, 2024.

The company posted a loss of $1.6 billion, or 38 cents per share, in the April-June period. That's down from a profit of $1.5 billion, or 35 cents per share, a year earlier. Adjusted earnings excluding special items were 2 cents per share.Analysts, on average, were expecting earnings of 10 cents per share on revenue of $12.9 billion, according to a poll by FactSet.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 442. in İE

Ireland Ireland Latest News, Ireland Ireland Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Intel to cut more than 15% of workforce as it cuts costs to try to turn chip business aroundChipmaker 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.
Source: wjxt4 - 🏆 246. / 63 Read more »