Intel Cuts 15% of Workforce Amid Financial Struggles
Intel Corporation has announced plans to lay off 15% of its global workforce, affecting approximately 18,720 employees, as part of a $10 billion cost reduction strategy following a decline in revenue. This significant workforce reduction aims to enhance operational efficiency amidst challenging market conditions. CEO Pat Gelsinger highlighted the need for decisive actions to navigate the semiconductor industry’s complexities, while also suspending dividends in Q4 2024 to focus resources on core operations.
Justin Hotard Appointed as Intel’s New Executive Vice President and General Manager of Data Center and AI Group
Intel Corporation has announced the appointment of Justin Hotard as the new executive vice president and general manager of its Data Center and AI Group (DCAI), effective Feb. 1, 2024. With over 20 years of experience in driving transformation and…