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- Intel laid off 15k employees due to its rough financial condition.
- The company has been facing a lot of troubles, and during them, its CEO has resigned.
- Now, the company has hired two interim co-CEOs, and the board of directors will conduct a search for a new CEO.
Intel has been in a pretty rough condition recently. There have been many rumors about the acquisition, and the company even laid off a lot of its employees to cover for the losses. More changes in the company that could negatively affect it would be too deadly now.
However, Intel’s CEO just recently quit, and now the company has lost one of its most important assets amid so many troubles.
Why it matters: Intel laid off 15k employees due to the losses it was facing, and it just might not be able to survive this massive blow.
The company just recently announced that Pat Gelsinger has resigned effective 1st December.
CEO Pat Gelsinger retired from the company after a distinguished 40-plus-year career and has stepped down from the board of directors, effective Dec. 1, 2024.
While it is not ideal for the company, Intel has now announced two interim co-CEOs, David Zinser and Michelle Johnston Holthaus. The Foundry leadership structure remains the same, but Michelle Johnston Holthaus has been appointed for the newly created position of CEO of Intel products.
Intel has named two senior leaders, David Zinsner and Michelle (MJ) Johnston Holthaus, as interim co-chief executive officers while the board of directors conducts a search for a new CEO.
Zinser will act as the executive vice president and chief financial officer, while, as said before, Holthaus will focus on the company’s products. While these both have been given major roles the board of directors will conduct a search for a new CEO.
This is a new hurdle for the company, and hopefully, it will manage to rise. The recent buyout rumors have also been dialled down, but AMD’s dominance is not stopping. The tech giant has already claimed nearly 30% of the desktop CPU market.
What do you think of the CEO retiring so suddenly? Do you think the blue team has any chance of making a comeback now? Share your thoughts with us in the comments section below.
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[News Editor]
Obaid is pursuing a Law degree while working as a content writer. He has worked as a gaming writer for over three years because of his passion for the medium and reporting the latest updates in the industry. Having played hundreds of games, Obaid finds himself coming back to Elden Ring, Cyberpunk 2077, and Red Dead Redemption 2, with these games being among his favorites. He has also been mentioned on highly regarded websites, such as Wccftech, Metro UK, PS Lifestyle, GamePressure, VGC, and Gamespot.
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