Intel is separating its ailing foundry business from the main company

Stefan Mileschin · 18th September 2024, 07:32

Intel is turning its foundry business, which manufactures chips for other companies, into an independent subsidiary. The company has revealed its plan in a note to employees from its CEO Pat Gelsinger, published over a month after Intel disclosed that it's cutting 15 percent of its workforce. Intel is laying off more than 15,000 people as part of its $10 billion cost-reduction plan to regain financial stability following a second-quarter net loss of $1.6 billion. Gelsinger explained in his new memo that turning the foundry into a subsidiary "will unlock important benefits," particularly the ability to evaluate and take external funding directly.

https://www.engadget.com/general/int...6.html?src=rss

18th September 2024, 07:32	#1
Stefan Mileschin [M] Reviewer Join Date: May 2010 Location: Romania Posts: 152,472	Intel is separating its ailing foundry business from the main company Intel is turning its foundry business, which manufactures chips for other companies, into an independent subsidiary. The company has revealed its plan in a note to employees from its CEO Pat Gelsinger, published over a month after Intel disclosed that it's cutting 15 percent of its workforce. Intel is laying off more than 15,000 people as part of its $10 billion cost-reduction plan to regain financial stability following a second-quarter net loss of $1.6 billion. Gelsinger explained in his new memo that turning the foundry into a subsidiary "will unlock important benefits," particularly the ability to evaluate and take external funding directly. https://www.engadget.com/general/int...6.html?src=rss

Similar Threads
Thread	Thread Starter	Forum	Replies	Last Post
Intel plans to spins off foundry business	Stefan Mileschin	WebNews	0	18th September 2024 07:29
Intel Redefines the Foundry for an Era of AI	Stefan Mileschin	WebNews	0	19th March 2024 06:19
Intel Introduces Advisory Committee at Intel Foundry Direct Connect	Stefan Mileschin	WebNews	0	22nd February 2024 12:06
IFS Reborn as Intel Foundry: Expanded Foundry Business Adds 14A Process To Roadmap	Stefan Mileschin	WebNews	0	22nd February 2024 09:17
Intel and UMC Announce New Foundry Collaboration	Stefan Mileschin	WebNews	0	26th January 2024 06:46
Intel Opens Fab 9 Foundry in New Mexico	Stefan Mileschin	WebNews	0	25th January 2024 10:32
Intel's Foundry looks good says Nvidia	Stefan Mileschin	WebNews	0	1st June 2023 14:16
Intel may not do so well out of foundry expansions	Stefan Mileschin	WebNews	0	23rd July 2021 06:50
Intel reveals upcoming Atom SoCs, opens foundry business to competitors	Stefan Mileschin	WebNews	0	25th November 2013 07:13
Intel expands foundry operations	Stefan Mileschin	WebNews	0	27th February 2013 06:47