Shares of the US corporation Intel fell by nearly 20 % after publishing a loss report and announcing plans to cut 15,000 jobs, said ag. Bloomberg.
The decline in shares occurred after the release of the financial report for the second quarter of 2024, according to which the company's revenue decreased by 1% compared to the same period last year and amounted to 12.8 USD. The company announced plans to reduce the number of employees, which grew by more than 15%, that is, by approximately 15,000 people. According to Intel CEO Pat Gelsinger, this measure is necessary “to achieve a more sustainable business model”. According to information on Intel's website, the company also intends to stop paying dividends to shareholders starting in October.
Founded in 1968, Intel manufactures electronic devices and computer components, including microprocessors.