Intel Chief Backs out of Hosting Trump Fundraiser

It's been a tough stretch for Intel as they move forward after announcing the layoffs of thousands of people.

So, they didn't need the added distraction of their CEO, Brian Krzanich, hosting a fundraiser for presumptive Republican nominee Donald Trump.

But that was what supposed to happen Thursday night while Trump was in California.

Until The New York Times started asking about it.

By the end of the day, the fundraiser had been canceled.

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"Krzanich's support of Trump could be seen as detracting from Intel's position at the forefront of the movement for increasing diversity in the tech industry," writes online magazine, Recode.

Like many tech companies, Intel has been under attack for a lack of diversity and last year, the company committed hundreds of millions of dollars to improving diversity within the company.

Wednesday evening, Krzanich tweeted he wasn't supporting Trump - or anyone.

I do not intend to endorse any Presidential candidate. We are interested in engaging both campaigns in open dialogue on issues in technology
— Brian Krzanich (@bkrunner) June 2, 2016