Intel Stock Rises Amid Job Cuts Announcement

Reported about 12 hours ago

Intel's stock increased over 7% as the company announced layoffs of 529 employees in Oregon, part of its restructuring plan. Despite the recent gains, the stock has lost nearly a third of its value over the past year. The layoffs are part of a broader reduction that may affect over 20% of its workforce as Intel seeks a turnaround under new CEO Lip-Bu Tan.

Source: YAHOO

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