Intel to Announce Layoffs and Dividend Pause

Upcoming News Article to Shed Light on Cost-Cutting Measures

Key Points:

• Intel plans to lay off thousands of employees in 2023.
• The company will pause dividend payments in the fourth quarter.
• These measures are part of a comprehensive cost-cutting plan.

In an upcoming news article, Intel Corporation (INTC) is expected to announce significant cost-cutting measures, including layoffs and a dividend pause. The move comes amid a challenging economic climate and increasing competition in the semiconductor industry.

Sources close to the matter have indicated that Intel plans to lay off several thousand employees, primarily in its manufacturing operations. The exact number of layoffs is still being determined.

In addition, Intel will reportedly pause its quarterly dividend payments starting in the fourth quarter of 2023. The dividend suspension is expected to save the company approximately $1 billion annually.

These cost-cutting measures are part of a comprehensive plan by Intel to improve profitability and streamline its operations. The company has been facing pressure from both investors and analysts to reduce expenses and focus on its core businesses.

The upcoming news article will provide further details on Intel's cost-cutting plans, including the specific areas where layoffs will occur and the expected impact on the company's financial performance.