New Intel chief executive Lip-Bu Tan on Thursday announced upcoming layoffs at the struggling US chip maker as White House tariffs and export restrictions muddy the market.

Tan did not provide details about the number of employees affected, but said he was "a big believer in the philosophy that the best leaders get the most done with the fewest people."

Despite the promise of cost-cutting and an earnings report that bested market expectations, Intel's share price sank more than five percent after it reined in its financial outlook for the current quarter due to broader market conditions.

"The economic landscape has become increasingly uncertain, driven by shifting trade policies, persistent inflation and increased regulatory risk," Intel chief........

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