FILE PHOTO: A man walks past the Intel logo at its booth during the first China International Supply Chain Expo (CISCE) in Beijing, China November 28, 2023. REUTERS/Florence Lo/File Photo
(Reuters) -Intel plans to cut thousands of jobs to finance a recovery and cope with eroding market share, Bloomberg News reported on Tuesday, citing people familiar with the matter.
Shares of the chipmaker, which is set to report quarterly results on Thursday, were up about 1% in extended trading. The stock has slumped 40% so far this year.
