intel corp (INTC) Key Developments
Intel Corporation Announces Executive Changes
Jul 2 15
Intel Corporation announced that Renée James informed the board that she will be stepping down as President of Intel to pursue an external CEO role. She has agreed to stay at Intel until January in order to transition the Executive Office. On July 1, the Intel Security organization – formerly the independent McAfee division – was formally integrated into Intel operations under the leadership of General Manager Chris Young. Intel Communication and Devices Group General Manager Aicha Evans has been elevated to the company's Management Committee, reflecting the leadership role she plays across Intel's business and the importance of communication and mobility to the company's growth strategy and product portfolio. Josh Walden, General Manager of Intel's New Technology Group, now leads all product and research teams that create and deploy new technology categories, such as interactive computing devices, perceptual computing and wearable devices. He is responsible for expanding the power of Moore's Law into entirely new categories. Associated with these changes, Intel executives Hermann Eul and Mike Bell will leave the company after a transition period.
Masergy Deploys Carrier-Class from Overture, Brocade, Fortinet and Intel
Jun 25 15
Overture announced that Masergy is the first service provider to deploy carrier-class, pure-play network functions virtualization (NFV) at the edge of the network. Masergy leverages NFV solutions from Overture, Brocade, Fortinet and Intel in a distributed model as part of its ongoing network evolution to gain greater service agility and provide customers with the services they want in real-time. Improved agility leads toward significant revenue upside, as Masergy is now be able to deliver new and advanced premium services quickly and easily.
Intel Corp. to Lay Off 152 Employees at its Folsom Campus
Jun 25 15
Intel Corp. plans to lay off 152 employees at its Folsom campus by July 15, 2015. The cutbacks were outlined in a standard 'WARN Act letter' that Intel sent to the state Employment Development Department, dated June 11, 2015. The proposed job cuts would represent a staff reduction of about 2.5%. The Intel letter said the company is 'providing a variety of pay and benefits to the affected employees, including two months' pay, career transition assistance and a minimum of four months of Intel-paid COBRA (health care) premiums'. The letter said additional payment based on years of service also will be offered. The letter to EDD noted that the affected employees 'do not have the right to displace or bump any other Intel employee, and they will not be recalled to work. None of the employees are represented by a union'. Positions earmarked for layoffs in the letter to EDD run the gamut, from data analysts to system programmers. The large position cuts listed are 16 graphics hardware engineers and 10 component design engineers. Intel also posted notice of 165 proposed layoffs in Santa Clara, its headquarters.
Intel Corporation Presents at Medical Device Conference 2015, Jun-26-2015 02:40 PM
Jun 22 15
Intel Corporation Presents at Medical Device Conference 2015, Jun-26-2015 02:40 PM. Venue: Palace Hotel, 2 New Montgomery Street, San Francisco, California, United States. Speakers: Asha Nayak, Global Medical Director.
Intel to Lay Off Unspecified Number of Employees
Jun 19 15
Intel is in the process of laying off an unspecified number of employees across the company, part of a broad, $300 million spending cut triggered by a diminished sales outlook for the year. Laid-off employees will be paid through July 15. The layoffs follow Washington County's approval last summer of a $100 billion Intel tax exemption for up to thirty years. The county declined to estimate the value of the deal to Intel, but its likely more than $2 billion, based on historical values of the company's past tax packages.