Intel Says Revenue to Miss Expectations, Cuts Jobs

Intel said third-quarter revenue will be far less than analysts’ expected and announced sweeping job cuts. Sales for the current quarter will be $12.5 billion to $13.5 billion. Analysts had projected $14.38 billion on average, according to data compiled by Bloomberg. Ed Ludlow reports.

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[leealex]

Shucks, 15, 000 fired but the CEO retained? CEO holds all the power. He should be the first to go if things become bad.

[uWr.Ppel]

Very funny. One country used to import a lot of chips, and who stopped Intel from selling them? Who caused the "sweeping job cuts"?

[FullUhFools]

15, 000 is a bloodbath. Are they outsourcing in disguise?

[Raptorman]

And 13th and 14th gen Intel CPU's are failing in a catastrophic manor and this is NOT limited to enthusiasts overclocking their gaming PC's -- Level1Techs has what appears to be crash dump data that indicates 13th and 14th gen Intel CPU's are vastly more likely to have problems IN SERVER APPLICATIONS. If Intel is going to need to replace them with new chips they are going to need to ramp production substantially to cover both the ongoing needs and the replacement parts. Of course, if you think you might have to release a microcode patch that improves the stability problem but lowers performance they may well be cutting costs in anticipation of being drained of billions in court!

[nagakk]

Multiple vacancies for tech staff in SMIC,
KINDLY apply IMMEDIATELY.
relocation benefits for family and schools support.

Operators are standing by, call now.

[ctrl-shift-run]

Intel's a company without a plan. Just like GE was a couple of years ago.

[zevil]

You know Intel has dug its own grave when it did not bother to make chips for mobile devices. Even the uninnovative Mediatek is doing far better. Heck Unisoc is even doing better.

[hemantsingh]

Google already have their own ARM CPU, so Intel CPU loses Google data center revenue. More data centers will move to ARM.

[vlhc]

Intel's unravelling is beautiful.
Good luck fighting your tech war against the largest concentration of talent in human history.

[bikedawg]

Intel needs new leadership---its gone to hell.

[LORDAKIRA]

Company is literally a billion dollars richer, and can’t afford its employees… what a terribly bad run company. 13 billion this year compared to 12 billion last year in the same quarter.

[rondrake]

Pat needs to take his US paid Golden Parachute and retire

[भगवानगणेशभगवानगणेश]

Come to India. We have so many dirt-cheap engineers. We want to go the home stretch with you. Intel-India just rhyme so well.

[neutronspdr]

Intel needs to cut wasteful spending, from the FAB to some of their incompetent staff. Most importantly, those useless meetings. If you spend most of your days in meetings, when are you ever gonna get anything done? last but not least, I'm sure some of their PhDs aren't qualified. Pretty sure their degrees were bought, not earned!

[DawsonH]

Well, it is no surprise. If it lost large market share, it will lost revenue, in turn lost the money available for
R&D, and then it will lost its competitive edge. As one report I read says it is a “death spiral”. Keep up the good work on sanctions, and see how long it can survive with all government money and tariff protections.

[ricnyc]

The truth: AMD and Nvidia are good enough.

[bongsi]

I'm an Intel fan since 15yrs ago but their crushing in Asia by AMD.
Converted to team AMD
Their Intel chips are so expensive vs AMD.
There is inbalance of prices in Asia by Intel.
No one is buying their chips because its too expensive, AMD mid processor price is equivalent to Intel entry level processor.
Intel should wake up, improve their pricing, improve their perfomance of chips (not 5% to 10% of performance increace yearly is nothing) and rebranding it to a next gen processor. The Jig is up.

[yanshein]

Intel smells like Nortel back in the day

[realmlee]

Change new ceo, there is other better reason than failure when amd starting taking yr shares! Layoffs is a no brainer, u dunt need a genious to think of that...

[jpowellfed]

Intel should get a Taiwanese (asian) CEO, look at NVDA, AMD 😊