The Financial Collapse of 2001 Unwinding Message Board

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Strategies & Market Trends : The Financial Collapse of 2001 Unwinding

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To: robert b furman who wrote (9364)	10/12/2022 5:40:48 PM
From: Elroy Jetson	Read Replies (1) of 13801

Intel is preparing layoffs numbering in the thousands that will be announced as early as this month Some Intel divisions, including the sales and marketing group, could be cut by up to 20 percent, Bloomberg News reported on Tuesday, citing people with knowledge of the situation. The company had 113,700 employees as of July, when it slashed its annual sales forecast by $11 billion after missing estimates for second-quarter results. . Finally we'll see if Intel's dividend survives, or is cut. Intel has been battered by shifting market trends, including the decline of traditional personal computers as smartphones and tablets rise in popularity. Top computer makers Lenovo, HP, Dell and ASUS all saw sharp declines in shipments for the quarter with an aggregate global decline of 19.5%, with Apple alone among the top five manufacturers seeing growth. Intel CEO Pat Gelsinger said that plans for the new factories will push forward, despite the recent market headwinds the company has faced. 'You just don't build factories like this based on a couple of quarter cycles,' Gelsinger told Reuters at the time. 'The semiconductor industry is doubling over the decade and I need capacity to grow into that opportunity.'

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