Intel Corp. is cutting 15% of its massive workforce and suspending stock dividend to reduce costs and improve competitiveness against Nvidia and AMD.
Analyst Jacob Bourne mentioned that Intel's cost-cutting plan and layoffs may help financially, but won't be enough to redefine its position in the chip market.
Intel reported a loss of $1.6 billion in the second quarter, down from a profit of $1.5 billion in the same period the previous year, with revenue dropping 1%.
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