Intel to reduce thousands of jobs by the end of the year while Chipmaker emits gloomy forecast

Intel said Thursday that she plans to reduce her account to 75,000 by the end of this year, from 99,500 at the end of 2024.

Calif Clara -based chipmaker, based in Calif.

The view comes as investors prompted Intel’s shares up to 14% this year, in the hope of removing the years of strategic errors that have excluded the company from the Nvidia boom.

The company said it expects a third -quarter loss of 24 cents per share, faster than 18 cents losses estimates, according to LSEG data. Intel expects revenue of $ 12.6 billion to $ 13.6 billion for September quarter, with an average point of $ 13.1 billion that was higher than the average estimate of $ 12.65 billion, according to data compiled by LSEG.

Growth in the PC market is unsafe as customers withdrew shipments forward in the first half of the year amidst continuous trade negotiations, analysts said. PC deliveries increased 6.5% in the June quarter according to data from the International Data Corporation.

While semiconductors are currently excluded from President Trump’s comprehensive global tariffs, Intel and his friends Chipmakers are facing customers who have no desire for the expense commitments between widespread macroeconomic insecurity.

Intel’s second quarter revenues for the period ended on June 28 were flat at $ 12.9 billion, seizing a four -quarter -quarter sales. The result defeated $ 11.92 billion, according to LSEG data.

CEO Tan has focused on a process of creating another generation called 14a to earn large external clients, leaving 18A, a technology his predecessor Pat Gelsinger had spent billions of dollars to develop, Reuters reported.

Tan is also focused on regulating the organization and reducing its labor force. In April, Intel agreed to sell a 51% shares in his programmable Altera business programmable for $ 4.46 billion.

Intel said the job reduction contributed to the restructuring of costs of $ 1.9 billion in the second quarter.

He recorded the regulated losses of the June quarter of 10 cents per share, compared to the estimates of a 1 cent profit per share. Its unused loss was 67 cents per share in the second quarter, faster than analyst estimates for a 26 percent loss per share.