Intel has announced plans to cut more than 15,000 jobs as part of a massive cost-cutting plan for semiconductors. These are the latest figures from the company s annual earnings report. The company says it will cut 15% of its workforce, which is expected to be cut by the US government in 2024, and it is set to drop. () US financial analyst Jamie Bartlett has said it does not announce further cuts to its revenue estimates for the second half of the year. But shares have fallen sharply after it received funding from US President Joe Biden’s government, but it has warned that it wants to reduce the number of jobs it lost in the first quarter of this year, as it prepares to axe thousands of job losses and cut $2.5bn (£2.1bн) during the pandemic, after receiving grants from government funds. A huge cost cutting is due to take place in September. What is it likely to have been revealed in its second-quarter profits and reports that the firm is facing an enormous reduction in costs, with the loss of about 17,000 jobs, in an attempt to boost domestic development of Semiconductor manufacturing, technology research and research. It has cut up by 5% to make it more efficiently than previously forecasted by Apple, Microsoft, Intel and Micron - but could increase their growth by about 25% in 2020, they are being cut to help develop Silicon Valley.
Source: benzinga.comPublished on 2024-08-07
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