Intel to cut 15% of workforce, reports quarterly guidance miss
Publishing timestamp: 2024-08-01 20:04:42
Summary
Intel reported worse-than-expected quarterly results, announced plans to cut 15,000 employees, eliminate its dividend, and reduce capital expenditures. The company's revenue declined, leading to a net loss. Intel's CEO mentioned investments in AI PC chips and the company's plan to move chip wafers to Ireland. Despite some positive results in certain segments, Intel's overall performance fell short of expectations, leading to a significant drop in its stock value.
Sentiment: NEGATIVE
Tickers: 2330-TW, QCOM, INTC, AMD,
Keywords: breaking news: technology, business, breaking news: earnings, technology, enterprise, business news, taiwan semiconductor manufacturing co ltd, intel corp, advanced micro devices inc, earnings, qualcomm inc,
Source: https://www.cnbc.com/2024/08/01/intel-intc-q2-earnings-report-2024.html