Intel Cuts Back Spending, Workforce
Digest more
Intel to lay off 22% of workforce
Digest more
A prominent investment analyst warned Intel may be cutting too deep, eliminating "pivotal" resources in the name of short-term profits.
Intel is planning to spin off its Network and Edge Group (NEX) into a stand-alone company and is seeking strategic investors. This decision aims to st
Intel reveals it will shed 24,000 employees this year and retreat in Germany, Poland, and Costa Rica $INTC pic.twitter.com/tHPHjftT6Y — Markets & Mayhem (@Mayhem4Markets) July 25, 2025
Shares of computer processor maker Intel (NASDAQ:INTC) fell 9.6% in the afternoon session after the company reported an unexpected second-quarter loss and announced significant restructuring plans, including major job cuts.
Intel has completed a 15% workforce reduction, a decision made by new CEO Lip-Bu Tan since his appointment in March. Tan emphasized the need for time to enhance competitive positioning and profitability while creating long-term shareholder value.