Intel to lay off 235 employees over two weeks in the US
Intel Corporation is set to undertake its fifth round of job cuts from December 31, 2023. The company will lay off around 235 employees at its research and development facility in Folsom, Sacramento County over two weeks, as per the Hindustan Times. In an official statement to various news sources, the semiconductor giant confirmed the impending job cuts.
The statement highlighted Intel's efforts to speed up its strategy while reducing expenses across various business areas and functions. “Intel is working to accelerate its strategy while reducing costs through multiple initiatives, including some business and function-specific workplace reductions across the company," the statement read. The release also indicated the potential for further cuts within the tech giant in 2024.
Also Read: Is this the end of 'Intel Inside'? Earlier in the year, Intel had eliminated 549 positions at its Folsom campus, amounting to around 10 percent of the organisation's total workforce. The facility serves diverse functions including R&D activities such as SSDs, graphic processors, software, and chipsets. Reports further suggested that there might be layoffs affecting up to 20 percent of employees in Intel's client computer and data centre divisions.
In California, the home state of Intel's Santa Clara headquarters, the company employs over 13,000 individuals, nearly constituting 10 percent of its global workforce of 131,900. Earlier this year there were rumors that Intel intended to sell its Bengaluru office to commit to a "Hybrid-first" approach. The company reportedly planned to engage in a lease arrangement with the prospective new owners.
Read more on livemint.com
