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Intel continues to pull back on its manufacturing projects
Intel cancelled multiple manufacturing projects in Europe and delayed its Ohio chip plant for the second time this year.
“Unfortunately, the capacity investment we make over the last several years were well ahead of demand and were unwise and excessive,” Tan said on the company’s second-quarter earnings call. Going forward, we will grow our capacity based solely on the volume commitments and deploy capex lockstep with the tangible milestones, and not before.” “We have much work to do in building a clean and streamlined organization, which we have started in earnest, and is remain an area of focus for me during Q3,” Tan said on the Q2 earnings call.
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