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Intel's share price tumbled 26% to $21.48 on Aug. 2, the day after it announced quarterly results, the job cuts and the dividend suspension. The shares closed Wednesday down 3.6% at $18.99 and ...
The layoffs at Intel are in line with a cutting of the fat from many tech companies in recent years. In 2024 alone, Google announced layoffs that could affect Austin, ... In Other News.
In October 2022, Intel announced a cost-reduction plan that included "people actions", aimed at slashing annual costs by $3 billion in 2023, reducing the chipmaker's headcount to 124,800 at the ...
Republican Senator Rick Scott on Wednesday asked Intel CEO Pat Gelsinger for more details on the company's plans to cut more than 15,000 jobs despite being set to receive nearly $20 billion in U.S ...
(Reuters) - Intel former CEO Pat Gelsinger could get as much as $12 million as payout, a regulatory filing showed on Tuesday, following his ouster from the struggling U.S. chipmaker.
Intel has faced complaints of age discrimination in firing and layoffs. Intel was sued in 1993 by nine former employees, over allegations that they were laid off because they were over the age of 40. [405] A group called FACE Intel (Former and Current Employees of Intel) claims that Intel weeds out older employees.
The job cuts at Workday arrive as layoffs continue across the tech sector — including from big names like Intel, Cisco and Apple over the past year — amid a broader wave of industry consolidation. Many companies have turned to restructuring as they grapple with how to stay competitive with evolving consumer spending, while also boosting AI ...
Intel's fall from grace seemed to happen all at once.Shares of the once iconic chipmaker plummeted 60% in 2024. The company posted the biggest loss in its 56-year history in its latest quarterly ...