Intel Jumps Over 7%: Is the Layoff Playbook Working?
Intel said it plans to start laying off hundreds of workers in Oregon as part of previously announced cuts under its restructuring plan.
Shares of the embattled chipmaker jumped over 7% Tuesday, extending recent gains driven by hopes that new CEO Lip-Bu Tan can engineer a turnaround and speculation of potential deals to sell parts of its business. Still, the stock has lost close to a third of its value over the past 12 months.