Intel Corp. said its second-quarter earnings fell sharply as the chip giant booked a hefty charge related to its efforts to restructure and cut costs.
In April, the company unveiled cost-cutting plans that aim to free up funds to invest in businesses that are growing. The restructuring includes plans to slash 12,000 jobs, or about 11% of Intel’s workforce.
On Wednesday, Intel said it had cut 6,000 of those so far, and it booked $1.41 billion worth of restructuring and other charges during the quarter.
The Santa Clara, Calif., company’s shares fell 2.7% to $34.71 in recent after-hours trading.
For the current quarter, Intel forecast revenue of $14.9 billion, plus or minus $500 million. Analysts po…
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