Intel (INTC) is planning layoffs & further cost-cutting measures on rough 2023 start
After a rough start to its fiscal 2023, Intel has confirmed rumors that it is planning layoffs and budget cuts in the near future.
New to Shacknews? Signup for a Free Account
Already have an account? Login Now
After a rough start to its fiscal 2023, Intel has confirmed rumors that it is planning layoffs and budget cuts in the near future.
Tesla has engaged in a price war in China with several EV manufacturers that are utilizing Mobileye technology.
With the release of its Q1 2023 earnings results, Intel put up a beat on revenue and came out with less losses in EPS than expected.
Intel was already seeking to establish a state-of-the-art chip factory in Germany with the government covering 7 billion euros of the cost.
Intel's Q4 2022 earnings results unfortunately missed on a few different metrics as it closed out its fiscal year.
Intel has plans to expand its business in Ohio with a new factory, but claims it may be slowed down by delayed funding from Congress' CHIPS Act.
Where some tech companies expected the semiconductor famine could clear up by 2023, Intel's Pat Gelsinger is now expecting it could last into 2024.
As it prepares to launch its Intel ARC line of gaming-focused hardware, Intel came in fairly strong on various stats in its Q1 2022 reporting.