Latest news with #IntelCorp
Yahoo
6 days ago
- Business
- Yahoo
Intel commences mass layoffs with over 100 Californian employees, including around 45 engineers in efforts to shed $500 million in operating costs this year
When you buy through links on our articles, Future and its syndication partners may earn a commission. For most of this year we've been hearing murmurs of Intel's plans to drastically reduce its workforce. As of today we're starting to see what the true scope of Intel's downsizing will be, with around 107 employees set to lose their jobs in California. These planned firings have been an ongoing story for Intel, having already cut 5% of its workforce back in 2024. According to CRN, last Wednesday Intel provided the notice required by Californian law alerting employees to their imminent doom. The employees affected are all connected to the Santa Clara headquarters, and are all a part of Intel's plans to reduce operating expenses by $500 million over this year, with the goal to drop another $1 billion in 2026. "As we announced earlier this year, we are taking steps to become a leaner, faster and more efficient company. Removing organizational complexity and empowering our engineers will enable us to better serve the needs of our customers and strengthen our execution," said an Intel spokesperson. They also reiterated the 20% figure we've heard before about how many employees Intel is planning to layoff. This is after Intel had claimed that those numbers were an exaggeration. Thanks to California's Worker Adjustment and Retraining Notification Act, a large layoff like this in a short amount of time requires proper warning and transparency. The notice states layoffs will commence on July 15, and those let go will have either 60 days notice in advance, or receive a four-week notice with nine-weeks of pay and benefits for the trouble. Hopefully this is enough to give these employees a fair chance at landing on their feet. What's a little surprising is the roles that have been noted in this mass layoff. Previous Intel has implied it would be cutting out middle-men to focus on engineering talent, but among the roles are still plenty of engineering jobs. CRN provide a list of these jobs, which include: "22 physical design engineers, three physical design engineering managers, three system-on-chip logic design engineers, three product development engineers, four design-for-test design engineers, six cloud software architects, four cloud software engineering managers and two cloud software development engineers." That's just a tad under 50% of the total number, just in engineering roles. Though there were also a fair few manager roles among the casualties, including an AI systems and solutions engineering manager, engineering project manager, silicon design engineering manager, and a bunch of others. With Intel's recent choice to outsource marketing to a consultancy firm using AI, it's likely there's another channel of jobs set to go on the cutting block there too. This is all in line with the company's new CEO, Lip-Bu Tan's plan, to meet those goals of cutting operation expenses as much as possible. Sadly, I think we're going to have to wait and watch to see how close Intel gets to that 20% quota. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
6 days ago
- Business
- Yahoo
Intel commences mass layoffs with over 100 Californian employees, including around 45 engineers in efforts to shed $500 million in operating costs this year
When you buy through links on our articles, Future and its syndication partners may earn a commission. For most of this year we've been hearing murmurs of Intel's plans to drastically reduce its workforce. As of today we're starting to see what the true scope of Intel's downsizing will be, with around 107 employees set to lose their jobs in California. These planned firings have been an ongoing story for Intel, having already cut 5% of its workforce back in 2024. According to CRN, last Wednesday Intel provided the notice required by Californian law alerting employees to their imminent doom. The employees affected are all connected to the Santa Clara headquarters, and are all a part of Intel's plans to reduce operating expenses by $500 million over this year, with the goal to drop another $1 billion in 2026. "As we announced earlier this year, we are taking steps to become a leaner, faster and more efficient company. Removing organizational complexity and empowering our engineers will enable us to better serve the needs of our customers and strengthen our execution," said an Intel spokesperson. They also reiterated the 20% figure we've heard before about how many employees Intel is planning to layoff. This is after Intel had claimed that those numbers were an exaggeration. Thanks to California's Worker Adjustment and Retraining Notification Act, a large layoff like this in a short amount of time requires proper warning and transparency. The notice states layoffs will commence on July 15, and those let go will have either 60 days notice in advance, or receive a four-week notice with nine-weeks of pay and benefits for the trouble. Hopefully this is enough to give these employees a fair chance at landing on their feet. What's a little surprising is the roles that have been noted in this mass layoff. Previous Intel has implied it would be cutting out middle-men to focus on engineering talent, but among the roles are still plenty of engineering jobs. CRN provide a list of these jobs, which include: "22 physical design engineers, three physical design engineering managers, three system-on-chip logic design engineers, three product development engineers, four design-for-test design engineers, six cloud software architects, four cloud software engineering managers and two cloud software development engineers." That's just a tad under 50% of the total number, just in engineering roles. Though there were also a fair few manager roles among the casualties, including an AI systems and solutions engineering manager, engineering project manager, silicon design engineering manager, and a bunch of others. With Intel's recent choice to outsource marketing to a consultancy firm using AI, it's likely there's another channel of jobs set to go on the cutting block there too. This is all in line with the company's new CEO, Lip-Bu Tan's plan, to meet those goals of cutting operation expenses as much as possible. Sadly, I think we're going to have to wait and watch to see how close Intel gets to that 20% quota. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Globe and Mail
12-06-2025
- Business
- Globe and Mail
The Zacks Analyst Blog Highlights Intel, NVIDIA, Taiwan Semiconductor Manufacturing and Advanced Micro Devices
For Immediate Release Chicago, IL – June 12, 2025 – announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Stocks recently featured in the blog include: Intel Corp. INTC, NVIDIA Corp. NVDA, Taiwan Semiconductor Manufacturing Co. Ltd. TSM and Advanced Micro Devices, Inc.'s AMD. Here are highlights from Wednesday's Analyst Blog: Is Intel the Turnaround Stock of 2025 and a Buy Now? Intel Corp. stock plunged 70% post chip foundry venture, yet Lip-Bu Tan's appointment as new CEO and recent 10% stock rise hint at a potential turnaround. Is it a good buy now? Let's see. Intel May Rebound in 2025 for Four Key Reasons Both Intel and NVIDIA Corp. produce graphics processing units (GPUs) that are essential for modern computing, including machine learning and artificial intelligence (AI). However, NVIDIA's CUDA software and Blackwell chips are highly sought after by developers and customers. The superior products from NVIDIA have allowed the company to secure a substantial share in most major AI segments, including data centers (read more: Is NVIDIA's Rise in Value a Sign to Invest in NVDA Stock?). Of course, it's challenging for Intel to compete with NVIDIA, but the former has more room to grow with a market capitalization of under $100 billion compared to NVIDIA's $3 trillion plus. Moreover, Intel's affordable AI accelerators can rival NVIDIA's. Intel is spending billions of dollars on enhancing its AI capabilities and may enter the market with energy-efficient chips. In the last two years, Intel has spent over $50 billion on upgrading its chip-manufacturing facilities. Such staggering infrastructure costs have made investors nervous due to the unprofitable foundry business. Intel's foundry business continues to face tough competition from the likes of Taiwan Semiconductor Manufacturing Co. Ltd., or TSMC, and Samsung. However, TSMC and Samsung located in Southeast Asia, have manufacturing centers in China. The ongoing trade tensions between the United States and China could disrupt their business. In contrast, Intel's chip-making hubs are primarily in the United States, allowing domestic semiconductor companies to send chip orders to these facilities and bypass trade restrictions. Despite losing the top semiconductor title, Intel generated revenues of $12.7 billion in the first quarter of 2025, outpacing arch-rival Advanced Micro Devices, Inc.'s $7.4 billion. This serves as a clear indication that Intel is making strides in the semiconductor industry and is well-positioned for a comeback. Last but not least, Lip-Bu Tan's appointment as the CEO of Intel has been well-received by market pundits, as his stint in the semiconductor industry has been productive. Tan's initiatives to streamline operations, deliver a competitive AI platform, and spin-off assets would restore stability at Intel and help the company return to its past glory. Is Intel Stock Worth Buying Now? With Lip-Bu Tan leading Intel's foundry recovery and AI accelerators gaining ground among competitors through cost advantages, holding onto INTC stock seems judicious. Intel's business revival is becoming more probable, and brokers are showing optimism by increasing the short-term price target for INTC to $22.42 (up 9.5%) from $20.48. The highest target is $62, indicating a potential 202.7% upside. However, Intel's net profit margin is negative at 36.2%, while the Semiconductor - General industries have a margin of 49.5%, suggesting financial instability due to expenses surpassing revenues. Therefore, new entrants, for now, should wait for improved financials before considering INTC stock. Intel has a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here. Why Haven't You Looked at Zacks' Top Stocks? Since 2000, our top stock-picking strategies have blown away the S&P's +7.7% average gain per year. Amazingly, they soared with average gains of +48.4%, +50.2% and +56.7% per year. Today you can access their live picks without cost or obligation. See Stocks Free >> Media Contact Zacks Investment Research 800-767-3771 ext. 9339 support@ Past performance is no guarantee of future results. Inherent in any investment is the potential for loss. This material is being provided for informational purposes only and nothing herein constitutes investment, legal, accounting or tax advice, or a recommendation to buy, sell or hold a security. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. It should not be assumed that any investments in securities, companies, sectors or markets identified and described were or will be profitable. All information is current as of the date of herein and is subject to change without notice. Any views or opinions expressed may not reflect those of the firm as a whole. Zacks Investment Research does not engage in investment banking, market making or asset management activities of any securities. These returns are from hypothetical portfolios consisting of stocks with Zacks Rank = 1 that were rebalanced monthly with zero transaction costs. These are not the returns of actual portfolios of stocks. The S&P 500 is an unmanaged index. Visit for information about the performance numbers displayed in this press release. 5 Stocks Set to Double Each was handpicked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2024. While not all picks can be winners, previous recommendations have soared +143.0%, +175.9%, +498.3% and +673.0%. Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor. Today, See These 5 Potential Home Runs >> Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Intel Corporation (INTC): Free Stock Analysis Report NVIDIA Corporation (NVDA): Free Stock Analysis Report
Yahoo
12-06-2025
- Business
- Yahoo
Stock Market News for Jun 12, 2025
U.S. stocks closed mostly lower on Wednesday after a choppy session. Market participants monitored the outcome of the U.S.-China trade negotiations in London. A softer-then-expected key inflation data failed to bolstered investors' sentiments. All three major stock indexes ended in negative territory. The Dow Jones Industrial Average (DJI) fell 1.10 points to close at 42,865.77. Notably, 20 components of the 30-stock index ended in positive territory and 10 finished in negative zone. The tech-heavy Nasdaq Composite finished at 19,615.88, declining 0.5% due to weak performance of technology bigwigs. The major loser of the tech-laden index was Intel Corp. INTC. The stock price of the PC chipset giant tumbled 6.3%. Intel currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here. The S&P 500 fell 0.3% to finish at 6,022.24, terminating a three-day winning streak. Wall Street's most observed benchmark is currently less than 2% away from its all-time high. Seven out of 11 broad sectors of the broad-market index ended in negative territory while four in positive zone. The Materials Select Sector SPDR (XLB) and the Consumer Discretionary Select Sector (SPDR) fell 1% and 0.8%, respectively. On the other hand, the Energy Select Sector SPDR (XLE) rose 1.5%. The fear-gauge CBOE Volatility Index (VIX) was up 1.8% to 17.26. A total of 18.9 billion shares were traded on Wednesday, higher than the last 20-session average of 17.8 billion. The S&P 500 recorded 11 new 52-week highs and 2 new 52-week lows. The Nasdaq registered 80 new 52-week highs and 43 new 52-week lows. The Department of Labor reported that the consumer price index (CPI) for May increased 0.1%, less-than-the consensus estimate of 0.2%. The metric for April was also 0.2%. Year over year, CPI rose 2.4% in May. Core CPI (excluding volatile food and energy items) also rose 0.1% in May, well below the Zacks Consensus Estimate of 0.3%. The metric for April was 0.2%. Year over year, core CPI rose 2.9% in May. The CPI and core CPI data are yet to show any impact of tariffs imposed by the Trump administration. For the week ended Jun 6, U.S. commercial crude oil inventories (excluding those in the strategic petroleum reserve) decreased by 3.6 million barrels from the previous week. The United States and China reached an agreement for trade and tariffs after two days of high-level meeting in London. U.S. Commerce Secretary Howard Lutnick said 'We have reached a framework to implement the Geneva consensus and the call between the two presidents.' This was echoed by Li Chenggang, China's international trade representative and a vice minister at China's Commerce Ministry. President Donald Trump said that the deal with China is 'done, subject to final approval with President Xi and me.' President Trump further said that 'WE ARE GETTING A TOTAL OF 55% TARIFFS, CHINA IS GETTING 10%.' On May 12, the United States and China have decided to for a 90-day pause of tariff implementations. The two countries agreed in a discussion in Switzerland. Market participants are keenly waiting for the final deal to be signed by both Presidents. U.S. was seeking confirmation that China would restore critical mineral (rear earth) exports. Beijing protested against the U.S. Commerce Department's warnings to U.S. chipset manufacturers against using Chinese semiconductors. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Intel Corporation (INTC) : Free Stock Analysis Report This article originally published on Zacks Investment Research ( Zacks Investment Research Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
Malaysian Reserve
10-06-2025
- Business
- Malaysian Reserve
Apple's macOS Tahoe to be final operating system to work on Intel Macs
APPLE Inc.'s new macOS Tahoe 26 will be the final Mac operating system software that will work on Macs running Intel Corp. processors, the company said Monday following its developer conference. The announcement marks the beginning of the end of support for the legacy systems based on Intel's chips, which Apple first shipped about 20 years ago. The Cupertino, California-based company started replacing Intel-based Mac PCs with computers running its own Apple Silicon semiconductors at the end of 2020. Apple said it will still provide smaller software updates for supported Intel Macs for two years. The Tahoe 26 OS unveiled Monday supports Intel Macs as old as the Mac Pro and some high-end MacBook Pros released in 2019. The company made the disclosure during its developer keynote following the consumer announcements at its annual Worldwide Developers Conference, as well as in briefings with reporters from its headquarters. –BLOOMBERG
