Intel Reportedly Loses Engineers Crucial during Corporate Strategy Change
With a focus now set on short-term profitability and squashing previous ambitious long-term projects, Intel has had to say goodbye to a number of very senior engineers. In fact, this change in focus has been reported to be causing a loss of talent that many experts are now moving immediately to their competitors like Samsung.
A Shift towards Short-Term Profitability
Under new management, CEO Lip-Bu Tan has changed what had been a long-term corporate strategy under former CEO Pat Gelsinger. The top-most goal on the agenda now is an increase in shareholder value, thereby killing all projects that had been consuming patients' resources without immediate return. If reports are to be believed, CEO Tan has said there are no more blank checks.
This set of strategic shifts directly affects such projects as novel glass substrates, which are now being closed. Thus, engineers and experts associated with such visionary projects are looking for venues outside.
Samsung Aircrafts with More Talent from Intel
Samsung is among those competitors who are cashing in on the crisis, actively reaching out to its talented engineers who know much about the technologies from which Intel is withdrawing. The Korean company seems so bent on growing its foundry division and is up in arms with specialists in glass substrates, BSPDN, and advanced packaging.
A story reported is that of an Intel expert, who has worked there for almost 25 years and played a prime role in the glass substrate project, joining Samsung recently. This is indeed one of several such celebrations at Intel due to the current financial strategy of the firm.
Intel's Wobbly Future
Intel's new gamble seeks to turn its finances upward, but how the long-term future will be with the loss of seasoned talent remains to be seen. For now, the effect is immediate: rival semiconductor companies are chasing and capturing competitive and skilled humans from Intel's army.
Information according to a report by ChosunBiz.
