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✂️ Intel is reportedly planning to announce cuts of over 20% of its workforce this week.
🏢 The goal is to eliminate bureaucracy and optimize management under the new CEO, Lip-Bu Tan.
🔬 This restructuring aims to rebuild an engineering-centric culture within the chip manufacturer.
@bernardodegarcia:
“Let’s go directly to Intel shares. Congratulations to the holders, because there’s good news. It turns out that, well, as you see, it has had a very good rally from this $18 zone. As you can see, a very interesting zone to buy Intel shares lately. Well, there we have it. Notice also where Intel shares stop intraday. They stop at the 325 moving average. They stop at the 325 moving average. I have it on the 15-minute chart because it’s the one I look at the most, but it doesn’t matter. If you look at the daily chart, you’ll find it occasionally. The thing is, here you find it less often because it’s more volatile. Ah, it’s not loading for me, but well, it’s probably around there. Anyway, the point is that Intel is set to announce plans this week to cut more than 20% of its workforce, aiming to eliminate bureaucracy at the chipmaker, according to a person with knowledge of the matter. The move is part of an effort to streamline management and rebuild a culture focused on engineering, according to the person who asked not to be identified because the plans are private. It would be the first major restructuring under the new director Lip-Bu Tan, who took office last month. The cuts follow an effort last year to cut about 15,000 jobs, a round of layoffs announced in August. Intel had nearly 109,000 employees at the end of 2024, down from nearly 125,000 employees last year.”
Watch the exact part of the video where @bernardodegarcia talks about Intel here:
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