Mounting losses put pressure on investor sentiment as the company looks to leapfrog Samsung
? The company’s turnaround seems to be slipping further out of reach as it posted another quarterly loss and announced plans for another round of lay-offs to cut costs.
It seems to be the theme for 2024. Just when the sector looked to be pulling itself out of the endless waves of job losses, along comes another company “right sizing” for a new economic reality. For staff, it must be especially disheartening. In the end, with the costs rising from $17 billion to $30 billion, Intel managed to get the German government to chip in $10 billion. Work is now said to have begun preparing the site.
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