Intel CEO Pat Gelsinger delivers a speech at the COMPUTEX forum in Taipei, Taiwan June 4, 2024. REUTERS/Ann Wang/File Photo Intel shareholders have launched a derivative lawsuit against former CEO Pat Gelsinger and current CFO David Zinsner, demanding the return of $207 million in executive compensation following massive losses in the company’s foundry business. The…
Intel stands at a crossroads, with its interim leadership signaling potential major structural changes in the coming year. During a Barclays technology conference in San Francisco, interim CFO Dave Zinsner explicitly stated that the possibility of separating the company’s manufacturing and product-development divisions remains “an open question for another day.”The American chipmaker’s leadership, now co-led…
This week in tech, significant developments made headlines across the globe. The tech industry continues to face challenges, with over 149,000 workers losing their jobs in 2024 amid economic headwinds. Intel announced the retirement of its long-serving CEO, Pat Gelsinger, signaling a major leadership shift at the semiconductor giant. On the cybersecurity front, the Indian…
Intel has reportedly begun the search for a new CEO following the recent departure of Pat Gelsinger and former board member Lip-Bu Tan has emerged as a potential candidate. According to a report by news agency Reuters, Tan left after disagreements between Gelsinger and other board members.Citing sources familiar with the matter, the report said…
Intel announced on Monday, December 2, 2024, that CEO Pat Gelsinger has retired, effective December 1, 2024, stepping down from both his executive role and the company’s board of directors after a 40-plus-year career.The semiconductor giant has named David Zinsner, executive vice president and chief financial officer, and Michelle Johnston Holthaus, newly appointed CEO of…
Intel CEO Pat Gelsinger‘s ambitious three-year effort to restore the 56-year-old American chipmaker to its former glory has faltered amid strategic blunders, manufacturing setbacks, and deepening financial losses, forcing the company to lay off 15,000 employees and fundamentally restructure its operations.Under Gelsinger’s watch, Intel’s revenue has plummeted to $54 billion in 2023, nearly one-third below…
FILE PHOTO: FILE PHOTO: llustration taken January 8, 2024. REUTERS/Dado Ruvic/File Photo/File Photo Intel has begun implementing mass layoffs that it announced back in August, impacting more than 2,000 jobs across several US states. The company says these workforce reductions are part of its broader cost-cutting measures. Employees in Oregon, Arizona, and these other US…
Tech companies continued to cut jobs at a rapid pace in August 2024. More than 27,000 workers in the industry lost their jobs as big tech companies like Intel, IBM, Cisco, and even smaller startups, comprising a total of over 40 companies announced layoffs. So far in 2024, over 136,000 tech workers have been laid…
The tech sector is experiencing unprecedented volatility in 2024, with massive layoffs and widespread uncertainty. Economic pressures, rapid technological advancements, and shifting market demands have led to significant job cuts. Companies like Intel, Microsoft, and UKG are slashing their workforces, highlighting the need for professionals to continuously upskill and adapt.The wave of tech industry layoffs…
The wave of tech industry layoffs persisted through July 2024, with over 8,000 professionals across 34 technology companies lost their jobs this month. The total layoff count for 2024 has now reached 124,517 employees from 384 companies worldwide. Intel mass layoffs, over 15,000 employees to let go Intel is laying off over 15,000 employees, representing…
