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.
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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.
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