Intel to slash thousands of job by year-end as chipmaker issues bleak forecast

Intel said Thursday it plans to slash its headcount to 75,000 by the end of this year, down from 99,500 at the end of 2024.The Santa Clara, Calif.-based chipmaker disclosed the layoff goals as it forecast steeper third-quarter losses than Wall Street estimates on Thursday, despite anticipating higher sales than analysts expected while new CEO Lip-Bu Tan steers the company through a historic turnaround.The outlook comes as investors pushed Intel’s shares up 14% this year, in the hopes of Tan undoing years of ...