Overview

• The company will eliminate about 24,000 positions to bring its headcount down from 99,500 to roughly 75,000 by year-end.
• Intel officially scrapped planned chip fabrication plants in Germany and Poland to remove excess capacity in Europe.
• Its assembly and testing facility in Costa Rica will shut, with operations shifting into larger centers in Vietnam and Malaysia.
• Under Tan’s leadership, Intel is pivoting from the 18A node to develop a next-generation 14A process aimed at winning external foundry customers.
• For Q3, Intel expects a loss of $0.24 per share—worse than the $0.18 analysts forecast—and projects revenue of $12.6–13.6 billion, above consensus.