Intel CEO Pat Gelsinger Visits Samsung for Possible Collaboration Talks

Intel CEO Announces Targeted Job Cuts in Wake of Lower Margins

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Intel CEO Pat Gelsinger said on Thursday announced that the company would soon undergo a round of “targeted cuts.” As reported by Oregon Live, the CEO took to a video conference with company employees where he described the cuts as necessary in the wake of high costs and low margins on the myriad of products Intel develops, manufactures and distributes. 

The cutbacks aim to reduce Intel’s operational expenses to and unlock a way back to profitability. This is happening just months after Intel and other semiconductor companies were awarded a cool $52 billion in government subsidies in the U.S. alone.

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