Intel plans additional restructuring, but is unlikely to announce it until next month, Chief Executive Officer Paul Otellini said Thursday.In April, Intel said it would restructure, including resizing the company, in response to weak earnings in recent quarters. Since then, Intel has closed a small office in Scotland, shut down an optical platforms division in the United States and combined two flash memory groups. In recent weeks, rumors have suggested that Intel would lay off a vast number of workers. While Intel will make more announcements regarding restructuring plans, it likely won’t do so until its July earnings conference call, Otellini said.Rumors have also suggested that Intel is interested in selling its flash business. “Right now, the plan on flash is to make it profitable,” Otellini said. When asked what might happen after the division becomes profitable, he said, “I’ll open a bottle of champagne.” In addition to missing earnings targets, Intel has been losing market share to competitor Advanced Micro Devices.-Nancy Gohring, IDG News Service (Dublin Bureau) Check out our CIO News Alerts and Tech Informer pages for more updated news coverage. Related content feature Expedia poised to take flight with generative AI CTO Rathi Murthy sees the online travel service’s vast troves of data and AI expertise fueling a two-pronged transformation strategy aimed at growing the company by bringing more of the travel industry online. By Paula Rooney Jun 02, 2023 7 mins Travel and Hospitality Industry Digital Transformation Artificial Intelligence case study Deoleo doubles down on sustainability through digital transformation The Spanish multinational olive oil processing company is immersed in a digital transformation journey to achieve operational efficiency and contribute to the company's sustainability strategy. By Nuria Cordon Jun 02, 2023 6 mins CIO Supply Chain Digital Transformation brandpost Resilient data backup and recovery is critical to enterprise success As global data volumes rise, business must prioritize their resiliency strategies. By Neal Weinberg Jun 01, 2023 4 mins Security brandpost Democratizing HPC with multicloud to accelerate engineering innovations Cloud for HPC is facilitating broader access to high performance computing and accelerating innovations and opportunities for all types of organizations. By Tanya O'Hara Jun 01, 2023 6 mins Multi Cloud Podcasts Videos Resources Events SUBSCRIBE TO OUR NEWSLETTER From our editors straight to your inbox Get started by entering your email address below. Please enter a valid email address Subscribe