Intel has divested its 1.18 million-share stake in British chip designer Arm Holdings, according to a regulatory filing revealed on Tuesday. The sale, completed in the second quarter, is estimated to have netted Intel approximately $146.7 million, based on Arm’s average stock price during that period.
Strategic Shift and Cost-Cutting Measures
The divestment aligns with Intel’s broader strategy…
Intel is making a significant cut to its workforce as part of a major restructuring effort aimed at reducing costs and improving financial stability. The company will lay off 15,000 employees, which represents approximately 15% of its total workforce, as it seeks to save $10 billion by 2025. This decision was communicated by Intel CEO Pat Gelsinger in a memo to employees, who described the move as…
