After announcing layoff plans, Intel may be asking this top strategy executive to exit
Intel's top strategy executive,
Safroadu Yeboah-Amankwah
, is reportedly departing the company. This marks the latest leadership change since
Lip-Bu Tan
assumed leadership of the US-based chipmaker in March. This exit follows Intel's recent announcement of layoff plans. According to a report by the news agency Reuters, Yeboah-Amankwah, who has served as Intel's
chief strategy officer
since 2020, will leave on June 30. The publication cited two individuals familiar with the matter who spoke anonymously to report this development. His responsibilities included overseeing growth initiatives, strategic partnerships, and equity investments for Intel.
'We are grateful for Saf's contributions to Intel and wish him the best,' the company said in a statement to Reuters.
As per the Reuters report, some of Yeboah-Amankwah's strategic functions will now be handled by Sachin Katti, who was recently promoted to chief technology and AI officer at Intel. Moreover, Intel Capital, the company's venture arm, will now report directly to Lip-Bu Tan, two sources have confirmed to Reuters on the matter.
Intel layoffs to start in the coming weeks
Last week, Intel reportedly announced the dates for upcoming job cuts, confirming that layoffs would begin on July 15. According to a report by CRN, the company is starting the layoffs with 107 workers connected to its headquarters in Santa Clara, California.
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The move was part of a broader cost-cutting and
restructuring initiative
introduced by CEO Lip-Bu Tan in April this year to help improve the company's performance.
As per the report, Intel filed a notice under California's Worker Adjustment and Retraining Notification (WARN) Act. The company stated in the filing that affected employees would either receive a 60-day notice or a four-week notice accompanied by nine weeks of pay and benefits.
In a statement to the publication, an Intel spokesperson said: 'As we announced earlier this year, we are taking steps to become a leaner, faster and more efficient company. Removing organisational complexity and empowering our engineers will enable us to better serve the needs of our customers and strengthen our execution.'
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