The automaker, created by a 2021 merger, is dealing with labor unrest, slumping sales and a revolt from its dealers.
Expectations for the chipmaker have been through the roof because of its dominance in a key component for artificial intelligence systems.
The cuts could amount to about 6,000 jobs for the San Jose, Calif., maker of computer networking technology.
The A.I. chip maker’s shares fell in early trading, but the stock pared some of its losses.
Big technology companies show no signs of slowing their spending on artificial intelligence, even though a payoff still looks a long way away.
The Silicon Valley chip maker also reported a net loss and declining revenue in the latest quarter.
While iPhone sales dropped 1 percent, consumer interest in Apple’s flagship product is expected to pick up later this year.
The e-commerce giant reported a profitable second quarter, but warned that the third quarter will be harder to predict.
The company has been investing in artificial intelligence technologies, as well as building the immersive world of the metaverse.
The tech giant’s revenue also grew 15 percent, but Wall Street is watching whether its investment in A.I. is paying off for its cloud computing business.
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