Intel CEO Gearing Up to Pitch Board on Cost-Cutting and Asset Sales 💸

News & Articles
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Summary:

  1. Cost-Cutting Strategy
    Intel CEO Pat Gelsinger is set to propose a plan to the board to cut costs by shedding non-essential businesses and overhauling capital spending.

  2. Asset Sales
    The plan includes potentially selling off units like the programmable chip unit Altera to streamline operations and improve financial stability.

  3. Future of Foundry Operations
    The proposal will not currently address the sale of Intel’s contract manufacturing operations, but this could evolve before the board meeting in mid-September.

Read more at: Reuters