Intel forecasts revenue below Wall Street estimates

The announcement casts a shadow over new CEO Lip-Bu Tan's first round of earnings at the helm

Intel's reduction of revenue forecasts comes in the same week as reports of imminent significant job cuts at the chipmaking giant which employs almost 5,000 people in Ireland.

Intel forecast second-quarter revenue below Wall Street estimates on Thursday, casting a shadow over new CEO Lip-Bu Tan’s first round of earnings at the helm.

It comes in the same week in which there are reports of significant job cuts on the way at the chip-making giant, which employs almost 5,000 people in Ireland.