Will more funding be needed to keep Intel competitive?
On 1 August 2024, Intel announced financial results for the second quarter of 2024. They weren’t pretty; the company’s stock dropped more than 25 percent as it announced an aggressive plan to cut costs, including layoffs that will impact 15 percent of its entire workforce.
They brought him in to fix things, after a gaping finance moron named Bob swan took it after Brian krzanich pushed gelsinger out after he rescued it in the 2000s by developing the core series after the pentium 4 failed.
Brian krzanich fiddled because amd was on fire and he thought he could keep arm at bay. Bob swan didn’t understand anything so he just cranked they buybacks.
It’s a nightmare, and it’s just getting worse, their engineering management went to hell because internal politics beat everything else.