Intel to cut 15% of headcount, reports quarterly guidance miss

Some of the financial punchline:<p>Revenue: $12.83 billion vs. $12.94 billion expected, $110M under expectation, and revenue declined 1% year over year in the fiscal second quarter.<p>Why is this a punchline?<p>Because their core business, the Client Computing Group that makes PC chips contributed $7.41 billion in revenue, up 9% and right around the $7.42 billion consensus, so that part is doing fine.<p>But the Intel’s Data Center and Artificial Intelligence unit posted $3.05 billion in revenue. The result was down 3% and lower than the $3.14 billion StreetAccount consensus, which accounts for pretty much all of the decline in expectation.<p>The shortfall almost entirely is in the Data Center and AI Unit.<p>Bellweather?

Intel had over 130,000 employees as of a couple of months ago.<p>15% layoffs is nearly 20,000 people.

[dupe]<p>More discussion on official release: <a href="https:&#x2F;&#x2F;news.ycombinator.com&#x2F;item?id=41133084">https:&#x2F;&#x2F;news.ycombinator.com&#x2F;item?id=41133084</a>

This is how you recover the lead, lay off people! Chasing that short term stock price goal really seems counter intuitive here.

oh goodie, what a wonderful job market, especially after already being unemployed for over a year

I don&#x27;t usually give friends stock advice, but i text them to dump any intel if they have. Let see who listened.

Globally, or just in the US?

IBM missed earnings by 1% so it cut 15% of workforce?<p>Are those the correct numbers?