Apr 24th, 2025
Intel Delivers Disappointing Forecast, Moves to Slash Jobs
Intel Corp., the chipmaker attempting a comeback under new Chief Executive Officer Lip-Bu Tan, gave a weak forecast for the current period and said it’s cutting workers to bring costs in line with the business’s smaller size. Second-quarter revenue will be between $11.2 billion and $12.4 billion, the company said in a statement Thursday. That was well short of the $12.9 billion average analyst estimate, sending the shares down more than 6% in late trading. Alongside the results, Tan indicated that he’ll quickly be putting his stamp on Intel — and trying to energize a culture that he feels has become too bureaucratic. The cost-cutting plan will involve “eliminating management layers” to enable it to make faster decisions, Intel said.







