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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.
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Australia unveils major super tax overhaul
Albanese government introduces 40% tax on super balances over $10M, enhancing support for low-income earners in retirement.
Albanese government introduces 40% tax on super balances over $10M, enhancing support for low-income earners in retirement.
The Albanese government has announced sweeping superannuation reforms, introducing a 40% tax on balances over $10 million while boosting support for low-income earners to create a fairer, more sustainable retirement system.
#Superannuation #TaxReform #Australia #Finance #Retirement #Albanese #Economy #Wealth #Investment #MoneyMatters
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Bitcoin crashes after Trump’s China tariffs
Bitcoin plunges over 12% post-Trump tariffs, igniting massive crypto liquidation and shaking investor confidence. #CryptoCrash #Bitcoin #Markets
Bitcoin plunges over 12% post-Trump tariffs, igniting massive crypto liquidation and shaking investor confidence.
Bitcoin’s historic rally has collapsed — plunging over 12% after Donald Trump’s new tariffs on China triggered the biggest crypto liquidation ever.
Experts warn the fallout could reshape global investor confidence and market regulation.
#Bitcoin #CryptoCrash #Trump #ChinaTariffs #CryptoNews #Ethereum #Solana #Markets #Investing #Finance
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Final Gaza hostages freed in historic deal
Last 20 Israeli hostages released from Gaza; Trump calls it a historic dawn for the Middle East’s future.
Last 20 Israeli hostages released from Gaza; Trump calls it a historic dawn for the Middle East’s future.
The last 20 Israeli hostages have been released from Gaza after two years of war, with President Trump hailing it as “a historic dawn of a new Middle East.”
Erik Simon from the Simon Wiesenthal Center joins to discuss what this means for the region’s future.
#Trump #Israel #Gaza #Hostages #MiddleEast #Ceasefire #PeaceDeal #Netanyahu #WiesenthalCenter #WorldNews
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