Intel stock surges 5.6% as chipmaker plans workforce cuts

From Yahoo Finance: 2025-04-23 08:57:00

Intel stock surged 5.6% after reports of planned 20% workforce cuts. Earnings report expected Thursday. Struggles in AI market led to 60% stock drop in 2024. New CEO hints at more cuts and innovation focus. Previous CEO launched Intel Foundry Services, ousted in December. Former execs blame decline on poor decisions over a decade. Suggestions to cut middle management for better decision-making. Staffers fear layoffs amid new 18A technology launch.

Read more: Intel stock surges as chipmaker reportedly plans to cut 20% of workforce