Intel's manufacturing unit gets more ‘bad news' after company CEO Lip-Bu Tan's major restructuring announcement
Intel's manufacturing unit faces more "bad news" as three senior executives in its operations are set to retire. This declaration from the company follows
CEO Lip-Bu Tan
's announcement of major restructuring plans in its manufacturing unit. The latest announcement marks further change as Tan works to revitalise the struggling US-based chipmaker. According to a report by the news agency Reuters,
Intel
has confirmed that
Kaizad Mistry
and Ryan Russell, both corporate vice presidents in the technology development group, will retire. Additionally, Gary Patton, a corporate vice president at its Design Technology Platform organisation and a former IBM executive, is also retiring. The latest departures underscore the significant shifts occurring within Intel's manufacturing operations.
Other changes may be coming for Intel's manufacturing process
Intel has also discussed internal changes to its technology development group, which oversees the creation of manufacturing processes. The Reuters report also cited two individuals familiar with the matter to claim. The company is also reportedly planning to scale down its manufacturing capacity planning team and reduce part of its engineering workforce, the sources told Reuters.
Manufacturing operations are currently led by
Naga Chandrasekaran
, a former Micron Technology executive, who joined Intel about a year ago under previous CEO Pat Gelsinger. In March, Chandrasekaran's role expanded to include both technology development and manufacturing. Since then, he has reorganised the teams under him, which provides for layoffs as part of broader global workforce reductions.
by Taboola
by Taboola
Sponsored Links
Sponsored Links
Promoted Links
Promoted Links
You May Like
Unsold 2021 Cars Now Almost Free - Prices May Surprise You
Unsold Cars | Search Ads
Learn More
Undo
What changes Intel CEO Lip-Bu Tan has already announced
Last week, during its quarterly earnings announcement, Intel's new CEO announced several significant changes for the company. Tan, who stepped into the role in March, outlined a plan to reduce the company's workforce to 75,000 by year-end, a cut of roughly 22%. The chipmaker also said it would adopt a more cautious approach to manufacturing investments.
Intel added that the continuation of its next-generation 14A manufacturing process depends on landing a significant customer. Without one, the company may halt or abandon development.
In a memo, Tan noted:
'We're developing Intel 14A ... from the ground up in close partnership with large external customers. Going forward, our investment in Intel 14A will be based on confirmed customer commitments.'
Tan also informed investors that Intel's 18A process would likely deliver a reasonable return only if applied to the company's products.
According to a previous report from Reuters, he has also considered discontinuing the offering of 18A technology to external clients to concentrate resources on the 14A process. Intel is reportedly planning to begin high-volume production of its
Panther Lake PC chips
later this year using the 18A process.
5 Tips to Get the Best Deals during sale on Amazon, Flipkart and other online websites
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Economic Times
24 minutes ago
- Economic Times
Kothari Industrial Corporation acquires Zodiz, Jeetlo to strengthen mass footwear presence
KICL, the flagship company of the diversified D C Kothari Group, acquired footwear brands Zodiz and Jeetlo for an undisclosed sum, further expanding its presence in the mass-market footwear segment, an official said. Kothari Industrial Corporation Ltd had previously acquired noted overseas brands, including Kickers, and has set up a non-leather footwear park in Tamil Nadu's Perambalur district. The acquisition of Zodiz and Jeetlo, along with their associated sub-brands, will come into effect from August 4, 2025, the company said in a statement on Zodiz brand is promoted by Coimbatore-based Zaimus Trends Pvt Ltd and is known for its affordable footwear promoted by Haryana-based India Pvt Ltd, has a strong presence across e-commerce platforms. The acquisition is expected to provide KICL with a firm foothold in underserved and fast-growing consumer segments. Both brands retail products priced below Rs 1,000 per pair, catering to a quality-conscious and value-driven industry data, KICL said that footwear priced under Rs 1,000 accounts for nearly 80 per cent of total consumption, with the sector estimated to be valued between Rs 80,000 crore and Rs 85,000 crore annually."This is not just an acquisition; it marks the beginning of a new chapter that will unlock value for consumers, partners, and stakeholders," said KICL executive chairman Jinnah Rafiq company plans to focus its marketing strategy on tier-II and tier-III cities, offering products that align with evolving fashion sensibilities while ensuring comfort for daily wear, he added. Ahmed noted that the Indian footwear market is undergoing a "profound transformation", with per capita consumption currently at 1.9 pairs per annum-a figure expected to double by 2030. The domestic footwear industry is at a pivotal moment. India is witnessing a rapid shift in consumer preferences. Footwear is no longer seen as mere utility-it has evolved into a symbol of personal style and self-expression, he said.
Time of India
24 minutes ago
- Time of India
Kothari Industrial Corporation acquires Zodiz, Jeetlo to strengthen mass footwear presence
KICL, a D C Kothari Group company, is set to acquire footwear brands Zodiz and Jeetlo, effective August 4, 2025, to bolster its presence in the mass-market segment. This acquisition will provide KICL with a stronger foothold in underserved consumer segments, focusing on products priced under Rs 1,000, catering to a value-driven market. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads Popular in Cons. Products 1. Over one lakh jobs in India's jewellery industry at risk due to fresh US tariffs KICL, the flagship company of the diversified D C Kothari Group, acquired footwear brands Zodiz and Jeetlo for an undisclosed sum, further expanding its presence in the mass-market footwear segment, an official said. Kothari Industrial Corporation Ltd had previously acquired noted overseas brands, including Kickers, and has set up a non-leather footwear park in Tamil Nadu's Perambalur acquisition of Zodiz and Jeetlo, along with their associated sub-brands, will come into effect from August 4, 2025, the company said in a statement on Zodiz brand is promoted by Coimbatore-based Zaimus Trends Pvt Ltd and is known for its affordable footwear promoted by Haryana-based India Pvt Ltd, has a strong presence across e-commerce acquisition is expected to provide KICL with a firm foothold in underserved and fast-growing consumer segments. Both brands retail products priced below Rs 1,000 per pair, catering to a quality-conscious and value-driven industry data, KICL said that footwear priced under Rs 1,000 accounts for nearly 80 per cent of total consumption, with the sector estimated to be valued between Rs 80,000 crore and Rs 85,000 crore annually."This is not just an acquisition; it marks the beginning of a new chapter that will unlock value for consumers, partners, and stakeholders," said KICL executive chairman Jinnah Rafiq company plans to focus its marketing strategy on tier-II and tier-III cities, offering products that align with evolving fashion sensibilities while ensuring comfort for daily wear, he noted that the Indian footwear market is undergoing a "profound transformation", with per capita consumption currently at 1.9 pairs per annum-a figure expected to double by domestic footwear industry is at a pivotal moment. India is witnessing a rapid shift in consumer preferences. Footwear is no longer seen as mere utility-it has evolved into a symbol of personal style and self-expression, he said.
Time of India
36 minutes ago
- Time of India
Amid Trump tariff threat, PM pledges to protect farmers, MSMEs & youth
1 2 Varanasi: Amid the tariff stalemate with the USA, Prime Minister Narendra Modi on Saturday sent a strong message to the world that protecting India's economic interest was paramount. Speaking in his parliamentary constituency on Saturday, the PM emphasised that the "top priority of the government remains the welfare of farmers, small industries and employment for youth." He reaffirmed the resilience of the Indian economy, saying that the country must remain vigilant about its economic interests and adopt 'swadeshi' products. "There is an atmosphere of global instability. All countries are focusing on their individual interests. India is going to become the third biggest economy in the world and this is why India will have to stay alert as far as its economic interests are concerned," the PM said, two days after UP President Donald Trump called India a 'dead economy'. CM Yogi Adityanath and two deputy CMs, Keshav Maurya and Brajesh Pathak were present on the occasion. Addressing a public gathering at Kalikadham in Sevapuri after transferring Rs 20,500 crore directly into the bank accounts of over 9.70 crore farmers as the 20th installment of the PM-Kisan Samman Nidhi scheme and inaugurating and laying the foundation of 52 projects worth around Rs 2,200 crore, the PM urged people to go 'Vocal for Local'. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like How to Trade ETH/USD Without Holding Ether IC Markets Learn More Undo "Anyone who wishes good for the country and wants to see India become the third-largest economy must encourage this spirit of going local," he said. The PM urged traders to promote 'swadeshi' products, terming it a true national service, and appealed to citizens to use Indian-made goods during the upcoming festivals and wedding seasons. He also advised people to hold weddings in India instead of abroad, highlighting that many young people were already doing so. "Every choice we make in favour of 'Swadeshi' will shape the future of the country. With everyone's effort, the dream of a developed India will come true. From now on, let's pledge to buy and decorate our homes with only Indian-made products," he added. Modi highlighted his government's farmer-centric policies, stating that unlike previous governments, the BJP administration has fulfilled its promises to farmers, citing the PM-KISAN Samman Nidhi as a prime example. "When this scheme was launched, opposition parties like the Samajwadi Party and Congress left no stone unturned to mislead farmers by claiming that after the 2019 Lok Sabha election, it would be stopped and even the money transferred into the accounts of farmers would be taken back. However, Rs 3.75 lakh crore has been transferred directly to farmers' accounts so far," he said. In UP alone, 2.5 crore farmers have received over Rs 90,000 crore, while farmers from Kashi got Rs 900 crore, he added. Referring to the transparency maintained in the schemes of his govt, Modi said, "There are no cuts, commissions, or middlemen. We created a permanent system where there's no leakage and no one can steal the rights of the poor." Prime Minister Modi emphasized developing the most backward regions with his mantra of 'High priority to more backward'. He highlighted the newly approved PM Dhan Dhanya Agriculture Scheme, focusing on underdeveloped districts with low crop production and income. He said the govt will invest Rs 24,000 crore in this scheme to support farmers from 'lab to field' and 'seed to market' for their products. Massive investments are being made in irrigation, and under the PM Fasal Bima Yojana, over Rs 1.75 lakh crore in claims were already paid out to farmers. Modi also mentioned a record increase in the MSP for farmers. Emphasising the govt's focus on boosting women's participation in agriculture through initiatives like Lakhpati Didi and Drone Didi, he stated that the aim is to empower 3 crore rural women financially, with over 1.5 crore already becoming Lakhpati Didis. Taking a subtle dig at the opposition, the PM said: "Hearing these numbers, SP leaders might just hop on their cycles and run away. " Despite agriculture being a state subject, the Centre has taken proactive steps to enhance farmers' income and living standards by implementing beneficial schemes, PM Modi said. He praised banks for launching a mega campaign and holding fairs in villages across the country for KYC renewal of the account holders under the Jan-Dhan scheme on the completion of its 10 years of launching. Modi also marked the distribution of assistive devices under the Rashtriya Vayoshri Yojana to 2,000 Divyangs by handing over devices, including low vision glasses to Babli Kumari (visually impaired student), sports wheelchairs to Santosh Kumar Pandey and Vikas Kumar Patel, hearing aids to Kishun, and a motorized tricycle to Sita Kumari Pal (teacher). Union agriculture minister Shivraj Singh Chouhan joined the event virtually from Patna. Get the latest lifestyle updates on Times of India, along with Friendship Day wishes , messages and quotes !
