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Manufacturing Operations

All articles tagged with #manufacturing operations

technology1 year ago•3 min saved

"Intel's 2023 Financial Update: Widening Losses at Factories"

Intel's financial update reveals declining revenue and widening losses at its manufacturing operations, with the new Intel Foundry division reporting a $7 billion operating loss in 2023. CEO Pat Gelsinger aims to make the division more independent to pursue chip production for other companies. Intel anticipates peak losses in 2024 and aims for profitability by 2030. The company faces competition from industry leaders like TSMC and Nvidia, but has secured Microsoft as a customer for its foundry business. Despite challenges, Intel is pushing ahead with a costly expansion of its factories in the US and Europe.

via Yahoo Finance|

#chip-industry #financial-update #intel

business2 years ago•1 min saved

Enphase Energy Announces Layoffs, Citing Economic Challenges

Enphase Energy, a solar equipment maker, announced plans to lay off about 10% of its workforce, affecting approximately 350 contractors and employees, and cease manufacturing operations at two locations. The company will resize other contract manufacturing sites and continue a hiring and travel freeze through 2024. The decision comes after the solar market experienced turbulence worldwide, with high interest rates impacting consumer demand in the United States and slowing growth in Europe. Enphase expects to incur restructuring and asset impairment charges of approximately $16-18 million, with $7 million in cash expenditures. The company's Q4 outlook remains unchanged, except for a $15 million increase in GAAP operating expenses.

via Seeking Alpha|

#business #enphase-energy #layoffs

cybersecurity2 years ago•1 min saved

Clorox Faces Product Shortages and Stock Drop Following Cyberattack

Clorox is experiencing a disruption in its operations due to a cyberattack, resulting in a shortage of some of its products. The company detected unauthorized activity in its IT systems in August and took immediate action to contain the attack. However, manufacturing operations have not fully resumed, and Clorox is currently fulfilling orders manually. The cyberattack is expected to have a material impact on the company's current-quarter financial results, although the longer-term effects are still uncertain. Clorox shares fell about 2% in early trading.

via CNN|

#clorox #cyberattack #cybersecurity