December 11, 2022
1 min read

Intel begins layoffs

The company started its expected layoffs in California with at least 201 employees as “part of a broader cost cutting effort”…reports Asian Lite News

Chip-maker Intel has begun layoffs and is also offering thousands of manufacturing employees globally three months of unpaid leave as it aims to weather the poor sales amid global macroeconomic conditions.

The company started its expected layoffs in California with at least 201 employees as “part of a broader cost cutting effort”, reports CRN.

The layoffs are scheduled to begin from January 31, the report said, adding that according to the “Worker Adjustment and Retraining Notifications”, 111 employees will be laid off at Intel’s Folsom, California location while “90 employees will be asked to go from Santa Clara location, where the company is headquartered”.

In October, Intel said it plans to drive nearly $3 billion in annual savings in the near term and $8 billion to $10 billion by the end of 2025, and these savings will majorly come from “people costs” from both operations and sales departments.

According to another report in Oregon Live, Intel is offering thousands of manufacturing employees three months of unpaid leave.

“Retaining our manufacturing talent is a key element of positioning Intel for long-term growth. Voluntary time off programmes allow us an opportunity to reduce short term costs and offer employees attractive time off options,” the company was quoted as saying in the report.

Intel is Oregon’s largest corporate employer, with 22,000 people assigned to its manufacturing, research and administrative campuses in Washington County.

The Financial Times reported last week that thousands of Intel workers in Ireland were offered three months of unpaid leave.

Intel CEO Pat Gelsinger, during the company’s Q3 earnings call in October, said the company is “responding to the current environment by taking aggressive actions to reduce costs”.

“Inclusive in our efforts will be steps to optimise our headcount. These are difficult decisions affecting our loyal Intel family, but we need to balance increased investment,” the Intel CEO had announced.

Earlier reports said that the chip-maker is planning job cuts that can run in thousands, especially hitting its sales and marketing teams, as consumer PC sales nosedive globally.

ALSO READ:

Previous Story

‘It’s India’s century’

Next Story

Playtika joins layoff trend

Latest from Business

Apple Appoints Sabih Khan as New COO

Khan will take over from Jeff Williams, who is stepping down from the role this month and will retire later this year…reports Asian Lite News Apple has announced that Sabih Khan, an

Microsoft Cuts Deep

The fresh job cuts come less than two months after Microsoft announced it was laying off more than 6,000 employees…reports Asian Lite News Microsoft is set to cut around 9,000 jobs —

Northeast Is Growth Engine

Scindia also provided updates on the government’s efforts to facilitate the entry of SpaceX’s Starlink service into India. “All due diligence from the Ministry’s side is complete Union Minister for Communications and

India to Empower Global South

India is emerging as a pivotal force in the global transition to clean energy, with Union Minister for New and Renewable Energy, Pralhad Joshi, asserting that the country is empowering the Global

Maruti’s Global Push Breaks Record

June shipments hit 37,842 units, signalling robust global demand Maruti Suzuki India recorded its highest-ever monthly exports in June, shipping 37,842 units and marking a new milestone that highlights the company’s expanding
Go toTop

Don't Miss

China not okay with Intel’s weak apology

Intel’s apology became a trending topic on Chinese social media

Intel Move on Uyghur Products Annoys China

Chinese netizens’ tsunami of anger was reflected in the comments