What a crazy move to the downside.
$Intel (INTC.US)$ Missed everything and that’s what you get in a brutal world. Plus cutting the dividend, all the dividend players will exit this ticker. Good Bye. 😅😂🤣🥲
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andy(三叔） : Intel will lay off 0.01 million5,000 workers [Oriental Headline] 2024-8-2
US chip giant Intel Corporation's third-quarter revenue fell far short of expectations, announcing 0.01 million5,000 layoffs. About 15% of the company's employees were affected. As of June 29 this year, Intel had 0.11 million6,500 employees, not including some of its subsidiaries. The company also said that most of the layoffs will be completed by the end of 2024.
Intel CEO Ji Singh mentioned in a memo sent to employees on Thursday local time that this was the hardest decision he has made in his career, and he expects to provide eligible employees with higher retirement benefits and a voluntary separation application plan starting next week.