Companies

Intel Downsizing 15 Percent of Workforce to Reduce Cost Amid Declining Revenue

The chipmaker said the financial results and outlook for the second quarter did not meet its expectations.
Intel Downsizing 15 Percent of Workforce to Reduce Cost Amid Declining Revenue
The Intel logo is displayed outside of the Intel headquarters in Santa Clara, Calif., on April 26, 2018. Justin Sullivan/Getty Images
Aldgra Fredly
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Chipmaker Intel Corp. announced on Thursday that it would downsize its workforce by 15 percent, or 15,000 roles, to reduce costs after reporting a loss in second-quarter earnings.

The California-based company reported that its second-quarter revenue fell from $12.9 billion in 2023 to $12.8 billion this year. It also posted a $1.6 billion net loss, or $0.38 per share.
Aldgra Fredly
Aldgra Fredly
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Aldgra Fredly is a freelance writer covering U.S. and Asia Pacific news for The Epoch Times.