Reported 1 day ago
Intel (INTC) is reportedly planning to lay off 15% to 20% of its foundry workforce, adding to the 15,000 positions cut in 2024. These layoffs come in light of significant financial struggles, including a recent $600 million net loss and increasing long-term debt. As new CEO Lip-Bu Tan seeks to implement a turnaround amid fierce competition, analysts are divided on the stock's value. While the stock trades at a low price-to-book ratio, its future hinges on the company's ability to innovate and regain market share in the PC and AI chip sectors.
Source: YAHOO