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Intel (INTC.O), opens new tab on Tuesday disclosed deepening operating losses for its foundry business, a blow to the chipmaker as it tries to regain a technology lead it lost in recent years to Taiwan Semiconductor Manufacturing (2330.TW), opens new tab. Intel said the manufacturing unit had $7 billion in operating losses for 2023, a steeper loss than the $5.2 billion in operating losses the year before. The unit had revenue of $18.9 billion for 2023, down 31% from $27.49 billion the year before.
Probably not much for intel, but some countries would definitely feel it...
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I'm my opinion $7bn loss is sufficient for triggering mass layoffs and maybe closing entire branches...
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Sure. It's a perfect opportunity to "tighten the belt" so that some people at the top can eat some more caviar. ;)
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Exactly 😅
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