Intel Corp. tumbled in premarket trading after Chief Executive Officer Lip-Bu Tan sparked concerns that he was more focused on cost cutting than restoring the chipmaker’s technological edge.

Despite layoffs, Intel appears to remain committed to its ongoing site expansion in Arizona as it retreats from other planned projects.

Intel Corporation's latest Q2 earnings have embedded several bombshell updates to its turnaround strategy. Click here to find out why INTC stock is a Hold.

Back in April, Intel Corp.’s newly appointed Chief Executive Officer Lip-Bu Tan told investors on his inaugural earnings call that turning around the troubled chipmaker would take time.

Intel Corp. brought in more revenue last quarter than Wall Street expected, even as the company racked up restructuring charges that are hitting profits.

On Thursday, Intel disclosed that it plans to reduce its headcount by 15% more this year in a bid to boost financial performance. The company expects to end 2025 with 75,000 employees, down from 99,500 in 2024. Intel will also scale back investments in its foundry business.

Intel Corp. beat an investor proposed class action alleging that the company and top executives at the time overhyped its internal revitalization plan.

Investors will be questioning the chip maker’s strategy for the future more than worrying about its second-quarter earnings results, Bernstein analysts say

The layoffs are one of the first major decisions made by Intel Chief Executive Lip-Bu Tan (pictured), who took over the company’s top job in March, replacing former head honcho Pat Gelsinger in an effort to arrest a long, slow slide into financial trouble.