Thread regarding Intel Corp. layoffs

It's all in the 10-Q, i.e. 'Note 7: Income Taxes'. Make what you will from it:

"Our provision for, or benefit from, income taxes for an interim period has historically been determined using an estimated annual effective tax rate, adjusted for discrete items, if any. Under certain circumstances where we are unable to make a reliable estimate of the annual effective tax rate, we use the actual effective tax rate for the year-to-date period. In the second quarter of 2023, we used this approach due to the variability of the rate as a result of fluctuations in forecasted income and the effects of being taxed in multiple tax jurisdictions."

OP is our resident troll.

What is more troubling? The fact that we had an operating loss OR that the beancounters were able to sell it as a "profit" ?

2025 will be ugly for Intel

The OP is correct. Q2 operating loss was ~$1.5B. The tax benefit which is an adjustment to what is planned for 2023 income tax is what was responsible for putting the income statement above water. It has no operational significance.

They need do far bigger cuts. They also need customer oriented new people. Right now it's a bloated company of in fighters and flatterers. These people demoralize one another.

They don't care. The long play will be Intel discontinuing Xeon, Core, Celeron, etc. and just making chips for other companies. That should scare the majority of current employees more than anything else.