Intel's shares fell more than 8% on Friday as the company's weak revenue and profit forecasts overshadowed new CEO Lip-Bu Tan's strategy to revitalise the embattled chipmaker. Years of bad decisions have left the struggling American chipmaking icon trailing in the lucrative artificial intelligence industry,

Intel Corp. Chief Executive Officer Lip-Bu Tan gave investors a stark diagnosis of the chipmaker’s problems on Thursday, along with the sense that it will take a while to fix them.

“The current macro environment is creating elevated uncertainty across the industry, which is reflected in our outlook,” Intel chief financial officer David Zinsner said in the earnings report. Zinsner said he does not have an estimate for the size of the workforce reduction.

Beleaguered chipmaker Intel has confirmed plans to restructure in a shift that will involve an unspecified number of layoffs. It was reported this week that the company could lay off around 20 percent of staff (it had 108,

Bloomberg reported 20 percent job cuts were coming this week, but Intel’s Q1 2025 earnings release isn’t saying that. Intel is “taking actions” that include “streamlining the organization, eliminating management layers and enabling faster decision-making,

Intel’s brand-new CEO took a big step in his effort to turn the chipmaker around, slashing costs by shedding 21,000 workers.