Intel is significantly restructuring its operations, planning to eliminate the Network and Edge Group (NEX) while also laying off 15 percent of its workforce. The company reported Q2 earnings that showed a net loss of $2.9 billion, up from $1.6 billion in the same period last year. To offset these losses, Intel has communicated its intention to spin off key parts of its Networking and Communications business as a stand-alone entity and is in search of strategic investors to assist in this transition.
Intel is planning to eliminate its entire Network and Edge Group (NEX) as part of cost-cutting measures, alongside a significant workforce reduction and plant closures.
The company reported a loss of $2.9 billion in Q2, up from $1.6 billion the previous year, prompting the need for drastic changes.
Collection
[
|
...
]