News
Intel to lay off 15% of workforce amid challenges
Intel to lay off 15% of workforce as CEO implements costs discipline amid manufacturing challenges and projected losses
Intel to lay off 15% of workforce as CEO implements costs discipline amid manufacturing challenges and projected losses
– Intel is laying off 15% of its workforce to restructure under new CEO Lip Bu Tan.
– The company expects significant losses next quarter, forecasting 24 cents per share in losses.
The downsizing will reduce Intel’s workforce from approximately 96,400 to 75,000 by year-end. Tan expressed that changes in manufacturing strategy would align production with demand rather than preemptively building factories. Intel’s 18A manufacturing process is anticipated to enter high volume, but the company may exit chip production if external customer demand does not materialise.
Financial Outlook
Intel expects significant losses in the upcoming quarter, forecasting a loss of 24 cents per share, contrasting with analysts’ estimates of 18 cents. Despite predicting higher-than-expected revenues, the chipmaker faces an uncertain market, following a strong but fleeting PC demand boost. Its second-quarter earnings underscored the challenges, revealing a significant increase in losses compared to expectations.
News
Notorious cartel leader El Mencho killed amid retaliatory violence
El Mencho, Mexico’s wanted cartel leader, killed in Jalisco; violence erupts nationwide, authorities on high alert.
El Mencho, Mexico’s wanted cartel leader, killed in Jalisco; violence erupts nationwide, authorities on high alert.
Notorious cartel leader El Mencho has fallen during a high-risk military raid in Jalisco after a tip-off from a romantic partner led authorities to his hideout.
Mexican forces carried out the operation independently, with U.S. intelligence providing support in tracking his location. His death marks a critical blow to one of Mexico’s most powerful criminal networks.
Retaliatory violence has erupted across the region, causing roadblocks and casualties. Authorities remain on high alert to restore peace and prevent further chaos.
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Peter Mandelson arrested in London over alleged Epstein links
Former UK ambassador Peter Mandelson arrested in London linked to Epstein and alleged misconduct, denies any wrongdoing.
Former UK ambassador Peter Mandelson arrested in London linked to Epstein and alleged misconduct, denies any wrongdoing.
London’s Metropolitan Police have arrested Peter Mandelson, Britain’s former ambassador to the United States, as part of an investigation into his alleged connections with Jeffrey Epstein. The arrest has triggered major political shockwaves across Westminster and beyond.
Lord Mandelson was detained on suspicion of misconduct in public office, with investigators examining claims he may have leaked market-sensitive information to Epstein during his time as a government minister. Authorities also executed search warrants at properties in Wiltshire and Camden as the probe widened.
Mandelson, who was dismissed by Prime Minister Keir Starmer and resigned from the House of Lords in February while retaining his title, has denied any wrongdoing as legal scrutiny intensifies.
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News
Man shot dead after breaching security at Mar a Lago
Man in 20s dies after breaching Mar-a-Lago, armed; Secret Service opened fire, citing no immediate danger inside.
Man in 20s dies after breaching Mar-a-Lago, armed; Secret Service opened fire, citing no immediate danger inside.
A man in his early 20s has been shot and killed after breaching the secure perimeter at President Trump’s Mar a Lago residence in Florida, according to the Secret Service. Officials say the president and first lady Melania Trump were in Washington DC at the time of the incident.
Authorities report the man was armed with a shotgun and a petrol canister when he approached the north gate. He was confronted by a sheriff’s deputy and two Secret Service agents who ordered him to drop the items before the situation rapidly escalated.
After putting down the petrol can, the man allegedly pointed the shotgun at officers, who then opened fire. Law enforcement says there was no immediate danger to anyone inside the property.
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