Intel chief executive Lip-Bu Tan pushed ahead with his sweeping overhaul of the struggling chipmaker on Thursday, dropping major manufacturing projects in Europe as he continues big lay-offs.
The US chipmaker reported better than expected revenue and guidance but still suffered a loss of $2.9bn in the second quarter, which it blamed on one-off costs from the turnaround plan.
In a memo to staff, the chief executive said the company was abandoning manufacturing projects in Germany and Poland, which had been paused in September, as well as slowing construction in Ohio to address losses in its chip manufacturing business.
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