Intel will enhance capital efficiency by spinning off its chipmaking division into Intel Foundry, which will remain a subsidiary under existing leadership.
The shift in focus away from building plants in Germany and Poland allows Intel to concentrate on facilities in Arizona, Oregon, New Mexico, and Ohio.
CEO Gelsinger noted that the advanced packaging factory in Malaysia will continue operations while evaluating market demand for other European projects.
Despite ongoing restructuring, Intel plans to lay off around 15,000 employees by 2024, with ongoing difficult decisions impacting workforce reductions.
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