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In a letter to all employees dated July 24th, Intel CEO Pat Gelsinger revealed that the company had invested excessively and hastily in recent years, resulting in a fragmented factory network and low operational efficiency. To address these issues, Intel has decided to terminate its projects in Germany and Poland. Additionally, the company plans to consolidate its packaging and testing operations from Costa Rica to Vietnam and Malaysia.
Despite these changes, Intel remains steadfast in its commitment to investing in the United States. To ensure financial prudence, the company will implement stringent financial management practices and further decelerate the construction progress of its factory in Ohio. This strategic move aims to align expenditures with market demand while maintaining operational flexibility.
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