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Intel sharesCNBC
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89% Informative
Intel shares slid as much as 12% in extended trading on Thursday after the chipmaker said Thursday it would lay off over 15% of its employees as part of a $10 billion cost-reduction plan.
Intel 's revenue declined 1% year over year in the fiscal second quarter , which ended on June 29 , according to a statement.
The company had a $1.61 billion net loss, or 38 cents per share, compared with net income in the year-ago quarter .
Intel said it expects around $20 billion in cuts this year , $17.5 billion in 2025 and more in 2026 .
VR Score
95
Informative language
96
Neutral language
90
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English
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33
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Attention-grabbing headline
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5
Source diversity
2
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