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Intel to slash thousands of job by year-end as chipmaker issues bleak forecast
New York Post· 2025-07-24 20:27
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 ...