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Intel's CEO Pat Gelsinger has suddenly retired
About 15,000 employees were let go recently.
In the meantime, Michelle Johnston Holthaus, the next CEO of Intel Products, and David Zinsner, executive vice president and CFO, will serve as interim Co-CEOs of the entire company. "While we have made significant progress in regaining manufacturing competitiveness and building the capabilities to be a world-class foundry, we know that we have much more work to do at the company and are committed to restoring investor confidence." This year alone, Intel has failed quality tests and announced it would lay off another 15,000 people — or 15 percent of their workforce — amid a $10 billion cost-reduction plan.
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