Intel CEO To Pitch Board on Plans To Shed Assets, Cut Costs (reuters.com) 22
An anonymous reader shares a report: Intel CEO Pat Gelsinger and key executives are expected to present a plan later this month to the company's board of directors to slice off unnecessary businesses and revamp capital spending, according to a source familiar with the matter, as they try to revive the once-dominant chipmaker's fortunes. The plan will include ideas on how to shave overall costs by selling businesses, including its programmable chip unit Altera, that Intel can no longer afford to fund from the company's once-sizeable profit.
Gelsinger and other high-ranking executives at Intel are expected to present the plan at a mid-September board meeting, the same source said. The proposal does not yet include plans to split Intel and sell off its contract manufacturing operation, or foundry, to a buyer such as Taiwan Semiconductor Manufacturing Co., according to the source and another person familiar with the matter. The presentation, including the plans around its manufacturing operations, are not yet finalized and could change ahead of the meeting.
Gelsinger and other high-ranking executives at Intel are expected to present the plan at a mid-September board meeting, the same source said. The proposal does not yet include plans to split Intel and sell off its contract manufacturing operation, or foundry, to a buyer such as Taiwan Semiconductor Manufacturing Co., according to the source and another person familiar with the matter. The presentation, including the plans around its manufacturing operations, are not yet finalized and could change ahead of the meeting.
Executives, board, RSU holders to leave... (Score:3)
Expect large number of people on the board of directors, CEO, CIO, c level employees, vice presidents, etc. to retire or leave.
Their stock based compensation is so far underwater that it will take years (decades?) for it to be worth anything.
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This is the kind of degenerate post that we can all expect on Slashdot
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Eight years. 1968 vs 1976. But age of the company has nothing to do with the tech. Though not at the moment the hot tech company it was several years ago Nokia was established in 1865.
Re:Executives, board, RSU holders to leave... (Score:4, Insightful)
classism leads to corruption which breeds incompetence, all these rich people flocked to get on the gravy train and now they've derailed it
greed is always self-defeating
size of the motherboard pie (Score:3)
This may have a much larger benefit to the computer industry and intel in particular.
Intel will finally, after decades of incrementally milking its CPUs for money via tiny speed improvements, will have to design much cheaper chips on the performance/cost ratio.
That should be a good thing for the computer industry.
Conjecture:Expect Nvidia to introduce a system on a chip + GPU motherboard for GPU bound processing systems and not have any of the x86 architecture on it.
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Conjecture:Expect Nvidia to introduce a system on a chip + GPU motherboard for GPU bound processing systems and not have any of the x86 architecture on it.
Uhh, you mean like Grace Hopper for data centers or Orin/Thor for automotive?
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Their stock based compensation is so far underwater that it will take years (decades?) for it to be worth anything.
Or never. It is in no way assured Intel will survive.
I have a novel idea (Score:3, Insightful)
New Logo: (Score:3, Funny)
"Pinkslip Inside"
Re:Reeeeee (Score:5, Insightful)
Maybe those billions of stock buybacks were not a good idea? Intel could have done something really crazy like invest in research or improve existing products.
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Have they announced Apple Silicon manufacturing? (Score:2)
Pensions Are Next (Score:4, Interesting)
This is like the Kodak business plan.
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This is like the Kodak business plan.
What pensions?
Has this ever worked (Score:2)