HardwareIntel’s CEO is reportedly set to present cost-cutting plan to the board and may ‘slice off unnecessary businesses’. OuchWhen you purchase through links on our site, we may earn an affiliate commission.Here’s how it works.
HardwareIntel’s CEO is reportedly set to present cost-cutting plan to the board and may ‘slice off unnecessary businesses’. OuchWhen you purchase through links on our site, we may earn an affiliate commission.Here’s how it works.
When you purchase through links on our site, we may earn an affiliate commission.Here’s how it works.
(Image credit: CNBC)
Now,a source has told Reutersthat CEO Pat Gelsinger and other key executives are expected to announce a plan to the company’s board of directors this month, detailing ideas as to how to turn its fortunes around, including proposals to “slice off unnecessary businesses and revamp capital spending”.
According to the source, there are no current plans to split Intel and sell off its foundry to another buyer,as Bloomberg reported last week. That being said, the plan is not yet thought to be finalised, and is subject to change between now and its presentation at a mid-September board meeting.
Pat Gelsingerspoke openly about Intel’s recent strugglesat a Deutsche Bank conference last week, and referenced the markets reaction to the recent steps to address them:
“It’s been a difficult few weeks…we’ve been working hard to address the issues.
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“We were determined to lay out a clear view of where we were, but also some of the next steps that we needed to address for the next phase of our strategy. And obviously, the market didn’t respond positively.
“We described a set of cost reductions. I can tell you today, most of those are well underway already. Like everybody in the industry, we realize we have to operate efficiently with nimbleness, with urgency. This is a competitive business and market, and that’s part of the reason we took the actions that we did as we build it.”
Time will tell as to what this new plan might look like, and exactly which of Intel’s business operations might be trimmed down to boost its finances and steady investor confidence. One way or the other, it seems strong moves and bold decision making may be needed to put Intel back on a steady path—and if these reports turn out to be correct, the company will be hoping that the decisions made here will turn things around for the seemingly stumbling giant.
Best CPU for gaming: Top chips from Intel and AMD.Best gaming motherboard: The right boards.Best graphics card: Your perfect pixel-pusher awaits.Best SSD for gaming: Get into the game first.
Best CPU for gaming: Top chips from Intel and AMD.Best gaming motherboard: The right boards.Best graphics card: Your perfect pixel-pusher awaits.Best SSD for gaming: Get into the game first.
Best CPU for gaming: Top chips from Intel and AMD.Best gaming motherboard: The right boards.Best graphics card: Your perfect pixel-pusher awaits.Best SSD for gaming: Get into the game first.
Best CPU for gaming: Top chips from Intel and AMD.Best gaming motherboard: The right boards.Best graphics card: Your perfect pixel-pusher awaits.Best SSD for gaming: Get into the game first.
Best CPU for gaming: Top chips from Intel and AMD.Best gaming motherboard: The right boards.Best graphics card: Your perfect pixel-pusher awaits.Best SSD for gaming: Get into the game first.
Best CPU for gaming: Top chips from Intel and AMD.Best gaming motherboard: The right boards.Best graphics card: Your perfect pixel-pusher awaits.Best SSD for gaming: Get into the game first.
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