Intel CFO says cost reduction announced last year ‘having an impact’

“The cost reduction plan we announced last year to improve the trajectory of the company is having an impact,” said David Zinsner, interim co-CEO and CFO of Intel (INTC). “We are fostering a culture of efficiency across the business while driving toward greater returns on our invested capital and improved profitability. Our Q1 outlook reflects seasonal weakness magnified by macro uncertainties, further inventory digestion and competitive dynamics. We will remain highly focused on execution to build on our progress and unlock value.”