Some tough news coming out of the BBC right now about Intel, the worlds largest chip maker is said to be cutting up to 20,000 jobs worldwide.
It’s an effort to stop the bleeding and to raise the stock price which of as late has been flat lined (insert Jim Cramers standard sound effect)
It’s just more proof showing there is a bit of a slowdown in Intel’s sales and shows that the increased competition from AMD is taking an effect on it’s sales.
Here’s a look at it’s current stock INTC
It’s been a rough 6months for Intel and Paul Otellini share holders have been selling and there is no value investors insight.
Intel is trying to save 1 billion dollars to help boost profits.
With the layoffs anounced at Intel it will be laying off 1/5 of it’s work force.
Only time will tell Intel’s future.