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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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Sign of the times? Hyundai and Mazda turn to China for EVs
Hyundai and Mazda tap China for new EVs, highlighting the country’s rising role in global electric vehicle production.
Hyundai and Mazda tap China for new EVs, highlighting the country’s rising role in global electric vehicle production.
Hyundai and Mazda are now sourcing new EVs from China, their first models built for and by the Chinese market. It’s a move that underscores China’s growing dominance in global electric vehicle manufacturing.
#EVs #ChinaAuto #Hyundai #Mazda #ElectricVehicles #CarNews #AutoTrends #MadeInChina
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Terror on Cambridge train as nine injured in knife attack
Nine injured in Cambridge train stabbing; two arrests made as authorities investigate possible terror motives.
Nine injured in Cambridge train stabbing; two arrests made as authorities investigate possible terror motives.
Nine people have been seriously injured after a violent stabbing spree on a train near Cambridge. Witnesses described scenes of panic as passengers scrambled for safety during the shocking incident.
Two men have been arrested, as British Transport Police—assisted by counterterrorism units—investigate the motives behind the attack. Armed officers reportedly tackled one suspect armed with a large knife as emergency services flooded the scene.
The attack has left the community shaken and authorities on high alert, with questions swirling about whether this was an act of terror or a random rampage.
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#CambridgeAttack #UKNews #BreakingNews #TrainStabbing #CounterTerrorism #PoliceResponse #CrimeAlert #TickerNews
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Trump’s shock peace deal as Morocco and Algeria end fighting
Trump brokers historic peace between Morocco and Algeria; experts debate implications for Middle Eastern relations and global influence.
Trump brokers historic peace between Morocco and Algeria; experts debate implications for Middle Eastern relations and global influence.
Donald Trump has once again stunned the world, this time brokering a historic peace agreement between Morocco and Algeria—with the backing of the United Nations. The move has many wondering whether the former U.S. president is reinventing himself as a global peacemaker.
Professor Tim Harcourt from UTS breaks down how Trump managed to secure the deal and what role the UN played in formalizing the agreement. Morocco’s vow to protect Jewish communities and strengthen ties with Israel adds another layer to this surprising diplomatic twist.
As Trump’s influence on global affairs grows, experts are debating whether this marks a genuine shift in Middle Eastern relations—or just a calculated political play on the global stage.
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#TrumpPeaceDeal #Morocco #Algeria #MiddleEast #Diplomacy #UN #Israel #TickerNews
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