Intel Cuts
Rumor has it that Intel may cut 10,000 or as many as 20,000 jobs at the close of the market today. Intel is trying to cut $1 billion in costs from its balance sheets this year. The stock is currently at $19.87. I own a few Intel stocks. I hope they recover soon.
After the Announcement
It turnes out, Intel will cut 10,500 jobs, roughly 10% of the company’s employees.
Leave a Reply