Intel (NASDAQ:INTC) shares dropped 9.6% after reporting an unexpected Q2 loss and announcing major restructuring plans, including job cuts. Despite revenue beating forecasts at $12.8 billion, the adjusted loss of $0.10 per share missed expectations for a profit. The company plans a 15% global workforce reduction and canceled chip factory projects in Germany and Poland. CEO Lip-Bu Tan admitted to overinvesting without adequate demand. Intel’s shares are volatile, with 35 moves >5% in the last year, suggesting the market sees the news as significant but not changing its view of the business. The stock is down 34.4% from its 52-week high.

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