Reported 2 months ago
Intel's CEO, Pat Gelsinger, announced the company's most significant restructuring in 40 years, following a shocking 25% drop in share prices due to disappointing quarterly earnings. The company suspended its dividend and plans to reduce its workforce by 15% while cutting capital expenditure for the upcoming years. Despite receiving substantial government support to boost semiconductor production, analysts express concerns regarding Intel's ability to compete with industry leaders like Nvidia and AMD.
Source: YAHOO