Trump announces 100% chip tariff as Apple ups U.S. investment
Investing.com -- Three senior executives in Intel’s (NASDAQ:INTC) manufacturing operations will retire, the company told Reuters, as new CEO Lip-Bu Tan implements major changes to revive the struggling U.S. chipmaker.
The company informed staff on Tuesday about the upcoming departures of Kaizad Mistry and Ryan Russell, both corporate vice presidents in the technology development group, along with Gary Patton, corporate vice president at Intel’s Design Technology Platform organization and a former IBM (NYSE:IBM) executive.
Intel also discussed restructuring plans for its technology development group, which oversees manufacturing processes. According to sources briefed on the matter, the chipmaker intends to reduce its manufacturing capacity planning team and cut portions of its engineering team.
The company’s stock was down 1.8% in premarket trading Friday.
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