Intel CEO Pat Gelsinger Reveals Cost-Cutting Strategy

Sunday, 1 September 2024, 18:57

Intel CEO Pat Gelsinger has announced a new plan to cut costs, which includes potentially selling off business units. This decision comes after the company reported significant financial challenges, including a dividend suspension and workforce reductions. Gelsinger's strategy aims to streamline operations and improve Intel's financial stability amid competitive pressures.
Siliconangle
Intel CEO Pat Gelsinger Reveals Cost-Cutting Strategy

Intel's Financial Shift

In a recent earnings call, Intel reported plans to suspend its dividend and cut its workforce by 15%. The goal is to save around $10 billion, reflecting a strategic move under CEO Pat Gelsinger. With a focus on operational efficiency, Gelsinger is exploring options to potentially offload non-core business units.

The Road Ahead for Intel

This new direction emphasizes Intel’s urgency to regain market competitiveness. Gelsinger's leadership is pivotal as he navigates through the challenges posed by market dynamics and financial pressures facing the tech giant.


This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.


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