Intel to cut thousands of jobs to reduce costs, layoffs to begin this week

Quick Summary:

Intel is also coming to grips with uneven demand for chips that run laptops and desktop computers, its main business.

The workforce reduction may be announced as early as this week, according to people familiar with the company’s plans, who asked not to be identified because the information isn’t public.

Analysts project that Intel will report that second-quarter revenue was flat, compared with a year earlier.

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Article Details

Category: BusinessFinance

Markets: India

Topics: Intel job cuts Intel layoff news Intel Q2 result Intel Intel earnings Latest layoff news Layoffs

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-07-31 @ 07:38:19 (8 hours ago)

News Timezone: GMT +5:00

News Source URL: business-standard.com

Language: English

Article Length: 371 words

Reading Time: 3 minutes read

Sentences: 19 lines

Sentence Length: 20 words per sentence (average)

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Copyright Owner: © Business Standard

News ID: 21865472

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