BREAKING: Top Computer Brand Calling It Quits - WOW

October 13, 2022

Computer brand giant Intel is taking matters into their own hands and calling it quits for thousands of employees in the wake of Biden's failing economy and the sickening economic downturn Americans everywhere are dealing with. No one is exempt.

"Chip giant Intel is reportedly planning to scrap thousands of jobs, likely in an attempt to cut fixed costs and deal with a slowdown in the computer market," Breitbart reported from Bloomberg.

"The Intel layoffs will be announced as early as this month, as the company is likely planning to make job cuts around the time of its third-quarter earnings report on October 27," according to Breitbart.

Intel’s sales and marketing group reports that the company could see cuts impacting about 20 percent of employees.

"Bloomberg Intelligence analyst Mandeep Singh estimates that Intel’s fixed costs range from at least $25 billion to $30 billion," reported Breitbart.

"Intel’s margins have withered, as they are about 15 percentage points narrower than historical numbers of around 60 percent," reported Breitbart.

During the company’s second-quarter earnings call, Intel CEO Pat Gelsinger said, "We are also lowering core expenses in calendar year 2022 and will look to take additional actions in the second half of the year."

"Intel’s shares have fallen more than 50 percent in 2022, with a 20 percent plunge occurring in the last month alone, Bloomberg reports. On Wednesday morning, the company’s shares also slipped about 1 percent to $24.80 in New York," according to Breitbart.

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