Intel (INTC) aims to "redefine" some of its strategy by spinning off non-core assets and focusing on core operations, Chief Executive Lip-Bu Tan said Monday.
As part of its turnaround efforts, the chipmaker needs to improve its balance sheet and replace the engineering talent it has lost, Tan said. Intel will generate new ideas, providing engineers "freedom" for innovation from within, he said.
Intel shares were down 0.9% in recent Tuesday premarket activity.
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