Intel CEO: ‘This is a time for a bit of austerity’

Intel CEO: ‘This is a time for a bit of austerity’

Summary :

“This is a time for a bit of austerity,” Gelsinger told Yahoo Finance on Friday (video above).

Gelsinger told investors on the company’s second quarter conference call last week he has exited six businesses since taking over as CEO in 2021. They also arrive as Intel’s struggles deepened in the second quarter due to product delays and flagging consumer demand for PCs.

Gelsinger told Yahoo Finance Live last week that the business was “at the bottom,” with trends standing to improve from there as product delays ease and seasonal forces pick-up and spur demand.

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