Intel continues to take administrative measures to contain the negative financial results of recent quarters. Now, the news announced by the company this Monday (16) is separate the Intel Foudry division from the rest of the company and make it a separate arm.
The new subsidiary is responsible only by manufacturing chips for other companieswho want to use Intel's existing framework and tools. This is a service similar to what is already provided by other companies, such as Taiwan's TSMC and Samsung's foundry unit.
The statement to employees was signed by the company's CEO, Pat Gelsinger. According to the note, Intel Foundry's leadership will remain the same and respond to the executive managerwith the difference that the unit will now have its own board of directors.
Intel In addition to “improve collaboration” with Intel products, the new division may receive separate investments — something that has already been confirmed by a new incentive from the United States government. The US is looking to strengthen its image as a chip manufacturing location, which could greatly help the new subsidiary.
Intel's plan to survive
The move to separate Intel Foundry from the rest of the company should also help the brand's finances. In its latest fiscal report, it reported that the sector was the one that suffered the most from operating losses — spending on investment in equipment and construction of structures is high in this area and profits may take time to appear.
Intel announced in August that it would lay off 15% of its employees and cut costs to save up to $10 billion on current bills. Part of the new strategy also involved sell part of the company's stake in Alterawhich may soon make its own public offering of shares.
Aside from the financial crisis, Intel has also recently had to deal with serious problems in the manufacturing of several 13th and 14th generation processors.