Intel Shares Freefall on Q2 Miss, Massive Cost-Cutting Plan 8/2/24

Shares of Intel are on pace for their worst day in 50 years after a tough second-quarter result. The chipmaker also announced a massive, $10 billion cost-savings program that will include thousands of layoffs and a half on dividend payments. CNBC’s Jon Fortt spoke to Intel CEO Pat Gelsinger on the turnaround plan, modest CPU demand and areas to be impacted by the layoffs.  Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.