Overview

• Tan plans to reduce Intel’s global workforce by about 15% to roughly 75,000 employees by year-end to streamline operations and boost efficiency
• The company will stop planned expansion projects in Germany and Poland and shift assembly and testing work from Costa Rica to Vietnam and Malaysia
• Intel’s Q2 revenue topped Wall Street forecasts but missed on earnings, triggering a 9.3% share price drop and a 34% decline from a year ago
• A federal judge dismissed a shareholder lawsuit alleging Intel hid foundry losses, removing a key legal overhang from the turnaround effort
• JP Morgan maintained an underweight rating with a $21 price target while trader Stephen Guilfoyle said new leadership offers a chance for meaningful change