Monday November 30, 2020

Intel hits the tech panic button before time runs out

Brian Krzanich has had to acknowledge a couple of hard truths about his company

24th April, 2016
Brian Krzanich, chief executive, Intel PIc: Bloomberg

This is what it looks like when a tech company fails to make the Evel Knievel jump across the canyon.

Intel announced last Tuesday that it would cut 12,000 jobs, or 11 per cent of its workforce. Companies with $11.5 billion in profit over the last 12 months do not tend to be the ones that fire the equivalent of Facebook’s entire workforce. Avon Products, a company whose revenue have been cut nearly in half...

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