Intel CEO Announces Widespread Restructuring
April 27, 2006 2:59 PM
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Paul Otellini - Image courtesy Intel
CEO Paul Otellini revealed broad restructuring of the chip maker’s operations at a shareholder meeting on Thursday
On the heels of
a 38 percent profit drop
in first quarter profits last week and slowing sales growth in the personal computers market, Intel CEO Paul Otellini stated that there would be major changes in the company to improve efficiency. Otellini said
Intel will look at ways of cutting costs per unit
, increasing employee productivity and implementing immediate changes to underperforming business units over the next 90 days.
Otellini also stated that this restructuring will focus on every aspect of the chip maker’s operations. "No stone will remain unturned or unlooked at," claimed the CEO. “You will see a leaner, more agile and more efficient Intel Corp." Intel underwent a similar change under Otellini's direction two years ago, which resulted in several project terminations such as LCoS research. Flash memory looks to be one of the largest projects on Intel's cutting board, losing over $100M USD in Q1'06 alone.
Intel will also be introducing three new chips over the summer to refresh its product lines. Woodcrest for servers will be released in June, Conroe for desktops in July and Merom for notebooks in August.
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4/28/2006 3:34:32 AM
Try standing in front of shareholder at their meeting with poor anuual or Q reports low in profits/revenues etc.
Believe me it is like standing or walking through fire.
They cut you into pieces & you got to have the right answers/solutions to calm them down.
Every major company reorganizes/restructores every 2 or more years to adapt to new conditions & future trends.
AMD is doing it,Sun will also.
Intel is not a All success company they have plenty of disaster projects also-all of which cost lots of money.
So this was expected & they better do it right.
"What would I do? I'd shut it down and give the money back to the shareholders." -- Michael Dell, after being asked what to do with Apple Computer in 1997
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