Intel stock up as new CEO Lip-Bu Tan eyes cuts to slow-moving and bloated middle management : Report

Get the Full StoryShares of INTC jumped over 8 on news that Tan has a turn-around plan for Intel, which could include staff layoffs and resurrected manufacturing.

Shares of Intel Corporation NASDAQ:INTC rose over 8 in early morning trading on Monday on news that incoming CEO Lip-Bu Tan has big plans to turn around the ailing chipmaker, including restructuring the company s approach to AI, resurrecting its manufacturing operations, and eyeing cuts to what Tan views as a slow-moving and bloated middle management layer, according to a Reuters report.

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