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Intel's 2Q24 financial report fallout
Intel's disappointing financial performance in the second quarter of 2024 has led to major layoffs and cuts in spending like capex.
Intel's disappointing financial performance in the second quarter of 2024 has led to major layoffs and cuts in spending like capex.

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IN THE NEWS
Tuesday 27 August 2024
Intel slashes marketing budget as AMD presses for market shift
Intel's Sales and Marketing Group (SMG) reportedly plans to streamline its workforce and reduce marketing expenses, aiming to cut costs by over 35% by the end of 2024.
Wednesday 21 August 2024
Intel in tight spot with no news on progress in Germany
Having received a subsidy of EUR10 billion (US$11 billion) from the German government to complete construction and start production within three years, what is the newest progress...
Monday 19 August 2024
Intel's 18A under fire: struggling yields, skepticism, and a race against TSMC
Intel has been attempting to shift the narrative to a more positive light following the company's "gruesome" series of trainwrecks that saw a disappointing second-quarter 2024 earnings...
Monday 19 August 2024
Intel Foundry's push for self-sufficiency could pave way for spin-off and rebranding
Is it time for Intel Foundry (IF) to be spun off as an independent entity? During the 2008-2009 financial crisis, AMD was forced to divest its wafer fabrication division, offloading...
Monday 19 August 2024
Intel's layoffs vs Samsung's labor disputes: shaping future semiconductor competition
Intel's underwhelming second-quarter 2024 financial results have prompted the company to announce plans to cut 15% of its workforce, approximately 15,000 employees, aiming to save...
Friday 16 August 2024
What Pat Gelsinger can learn from TSMC's last layoff during financial crisis?
In his 42 months as CEO of Intel, Pat Gelsinger recently issued an internal memo announcing layoffs, sharply criticizing Intel's deep-seated issues. He stated that Intel's "costs...
Friday 16 August 2024
Intel's CHIPS Act implementation hamstrung by performance, packaging dependencies, workforce shortages
The US$39 billion funding allocation under the CHIPS and Science Act (CHIPS Act) is nearing completion.
Monday 5 August 2024
Intel's cost reduction plan only temporary fix amidst disappointing 2Q24
Intel reported a US$1.6 billion net income loss in the second quarter, a significant decline compared with the US$1.48 billion in net income it recorded during the same period in...
Monday 5 August 2024
What went wrong with Intel? Its backyard is on fire
Intel's recent announcement to cut 15% of its workforce (approximately 15,000 employees) and reduce capital expenditures to save US$10 billion may undermine its goal of reclaiming...
Friday 2 August 2024
Intel announces cost reduction plan, expects to reduce tile production outsourcing to TSMC in 2026
Intel has unveiled a cost reduction plan involving significant layoffs, substantial cuts in operating expenses, and a sharp reduction in capital expenditures (capex). The announcement...