KUALA LUMPUR, July 30 (Bernama) -- Bursa Malaysia's key index closed at an intraday high today, supported by continued buying interest even as renewed geopolitical tensions and a weaker overnight lead from Wall Street following the US Federal Reserve's (Fed) decision to stand pat on interest rates weighed on broader sentiment. The Fed has decided to hold rates steady for the fifth consecutive meeting, with the Federal Funds Rate unchanged between 3.50 per cent and 3.75 per cent. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose 4.84 points to 1,720.40 from yesterday’s close of 1,715.56. The benchmark index, which opened 1.14 points lower at 1,714.42, hit its lowest level of 1,710.69 in early trade before gaining momentum for the rest of the day. However, the broader market was negative with losers outpacing gainers 581 to 411, while 612 counters were unchanged, 1,173 untraded, and 87 suspended. Turnover declined to 2.49 billion units valued at RM2.25 billion from ...
Intel is undergoing a massive transformation under new CEO Lip Bu Tan, who has launched deep job cuts, scrapped expansion plans, and shifted focus toward a more cost-disciplined, execution-driven strategy to correct years of mismanagement.
Major Job Cuts Underway
Intel will end 2025 with 22% fewer employees, reducing its workforce from 96,400 to 75,000.
Most cuts have already taken place, including eliminating 50% of company layers, especially in middle management.
CFO David Zinsner called the approach “surgical,” aimed at improving efficiency.
What’s Driving the Overhaul?
Intel has been losing ground in:
AI chips, where Nvidia dominates
PC and server markets, where AMD is gaining share
Contract manufacturing, where Intel’s ambition to rival TSMC has stumbled
Tan is now saying “no more blank cheques”—every investment must now make economic sense, and factories will only be built when demand is confirmed.
Key Strategy Changes
Factory Buildouts Scaled Back
Construction slowed in Ohio
Projects halted in Poland and Germany
Packaging ops consolidated in Vietnam and Malaysia (exiting Costa Rica)
Product & Tech Review
The 18A chip process may be limited to Intel’s own use
Investment in next-gen 14A process will be cautious; Intel may exit foundry services if no external customers emerge
Tan will personally approve major chip designs
Performance-Driven Culture
Shift to “build what customers need, when they need it”
Aim to rebuild trust through consistent delivery and execution
Financial Snapshot
| Metric | Result | Wall St. Estimate | Outcome |
|---|---|---|---|
| Q2 Revenue | $12.9B | $11.92B | ✅ Beat |
| Q2 Adjusted EPS | -$0.10 | +$0.01 | ❌ Miss |
| Q2 Unadjusted EPS | -$0.67 | -$0.26 | ❌ Miss |
| Q3 Revenue Guidance | $12.6–13.6B | $12.65B (avg) | ✅ Midpoint Beat |
| Q3 EPS Guidance | -$0.24 | -$0.18 | ❌ Miss |
| Restructuring Cost (Q2) | $1.9B | — | — |
Intel’s shares fell 4.5% in extended trading following the weak earnings outlook.
Conclusion & Key Takeaways:
Intel is cutting deep—in jobs, layers of management, and expansion plans.
A total reset is underway, focused on demand-driven decisions and leaner operations.
Factory buildouts paused or halted to avoid overcapacity.
Financials show mixed signals: stronger revenue, but continued losses and weak forecasts.
Intel’s future now depends on disciplined execution, customer trust, and internal innovation.
Bottom line: Intel’s Tan era is just beginning—but bold moves are already shaking up the chipmaker’s future. Whether this strategy pays off will depend on delivery, not promises.
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