Intel continues to pull back on its manufacturing projects

Intel CEO’s lip lip lips are progressing in his plan to rid the shortcomings. This includes jamming on many manufacturing projects.

The Giants Giant Company said on Thursday in the second quarter profit report that it will delay, and in some cases it does not move forward with multiple manufacturing projects. Specifically, Intel said she no longer advanced with her previously announced projects in Germany and Poland. These projects included a collection and testing facility in Poland and a chips factory in Germany. Both projects were sitting in forgetting since its comment in 2024, shortly after the announcement.

The company also plans to unify its test operations in Costa Rica and focus these operations on its locations in Vietnam and Malaysia.

“Unfortunately, the investment of the capabilities that we make during the past few years was applying to the demand and was unknown and excessive.” “Our factory imprint has become unnecessarily fragmented. Capex Lockstep With concrete monuments, not before. “

Intel also said that it would increase its delay in its factory in Ohio, which amounted to $ 28 billion. The factory was supposed to open in 2025, and was already delayed once this year in February.

The second quarter was the full first quarter with Tan on the head of Intel. He was appointed CEO of the semiconductor company on March 12 and the role began a week later. Soon after, Tan said his plan was to get rid of the company’s shortcomings by selling its non -basic units and simplification.

“We have a lot of work to be done in building a clean and simplified organization, which we started seriously, and the focus remains for me during the third quarter,” Tan said in the Q2 profit call. “Our goal is to reduce inefficiency and repetition and increase accountability at every level of the company.”

The company also presented an update on its working power, which has passed through several rounds of workers’ demobilization. The company said that Intel reduced the workforce by about 15 % and plans to end the year with 75,000 employees. Tan said that Intel was able to eliminate 50 % of the management layers through its last layoff.

Intel announced in an internal note that it will record 15 % to 20 % of workers in the Foundry Intel unit, which designs and manufacturing chips for external clients. The company had 108,900 employees at the end of 2024, according to the annual report of the company submitted to the Securities and Stock Exchange Committee. This fell from 124,800 people worked at the end of 2023.