Intel CEO to propose business divestiture and investment review plan = sources

September 2, 2024, 8:35 AM GMT+9 (excerpt)

According to sources, Intel CEO Pat Gelsinger and other executives are expected to present plans for business divestitures and reevaluation of investment at a board meeting in mid-September, as part of a restructuring effort.
The plans include cost-cutting measures through the sale of some businesses, such as the programmable semiconductor division, but do not yet include a split of Intel or the sale of its semiconductor foundry business.
According to sources, it is expected that executives will present plans to further reduce investment in equipment for plant expansion, and there is a possibility that the temporarily suspended or completely halted 32 billion dollar German factory construction project will be included.