Tag Archives: semiconductor industry

Intel Corporation announced the resignation of CEO Pat Gelsinger on December 1, marking the end of his tenure at the tech giant less than four years after his appointment. Gelsinger, a veteran of the company with a career spanning decades, stepped down following a directive from Intel's board to either retire or face removal.

Intel is set to undertake significant job cuts as part of a strategic effort to recover market share and bolster its finances, according to Bloomberg News. The company has not yet officially announced the layoffs, but reports suggest an announcement could come as early as this week. Shares of the chipmaker saw a slight uptick of about 1% following the news, though the stock has plunged by 40% this year.

Applied Materials, the US-based semiconductor equipment manufacturer, is in discussions with the Karnataka government to establish a Center of Excellence for innovation and an R&D lab in Whitefield, Bengaluru, emphasizing the importance of chemicals, gases, and ease of doing business in the semiconductor ecosystem.