Intel delivers disappointing forecast as sweeping job cuts loom

Second-quarter revenue at the chipmaker will be between $11.2 billion and $12.4 billion. Photograph: Bloomberg Intel has given a weak forecast for the current period and said it is cutting workers to bring costs in line with the business’s smaller size. Second-quarter revenue will be between $11.2 billion and $12.4 billion, the company said in a statement Thursday. That compares with an average of analysts’ estimates of $12.9 billion. Intel shares were down 6.4 per cent in extended trading. READ MORE The results come a day after it emerged the company was set to announce plans to cut more than…