Intel CEO Pat Gelsinger and key executives are expected to present a plan to the company’s board later this month to shed redundant divisions and restructure capital spending in an effort to revive the once-dominant chipmaker, according to a source familiar with the matter.
The plan includes ideas on how to reduce overall costs by selling businesses, including its programmable chip division Altera, which Intel can no longer fund from the once-significant profits it made.
Gelsinger and other senior Intel executives are expected to present the plan at a board meeting in mid-September, the source said.
