Intel Cancels Innovation Event Amid Cost Cuts and Restructuring

Intel has postponed its Innovation event planned for next month in California to prioritize other events like webinars and summits. This decision comes after a recent earnings report where Intel announced weak sales projections, dividend cuts, and a 15% reduction in its workforce. The annual Innovation event, intended to highlight Intel`s technological advancements, was part of CEO Pat Gelsinger`s strategy to revitalize the company.