Layoffs Update: In the previous round of layoffs, Intel eliminated 549 positions at its Folsom campus, which was more than 10 percent of its total workforce. This time so many people are going to be laid off.
Intel Layoffs: Chip giant Intel is laying off 235 employees in the fifth round of job cuts this year and will lay off more employees in the company in 2024. The Santa Clara-headquartered company said it plans to lay off 235 employees at its research and development facility in Folsom (Sacramento County), the San Francisco Chronicle reports.
There will be layoffs between this date
The layoffs are scheduled to begin December 31 and last for two weeks. A company spokesperson was quoted as saying, “Intel is working to accelerate its strategy by reducing costs, including some business and function-specific workplace reductions across the company.”
The spokesperson said that there may be additional cuts in the new year. In the previous round of layoffs, Intel eliminated 549 positions at its Folsom campus, more than 10 percent of its total workforce.
This is the goal of the company
Last year, Intel announced its goal to cut costs by $10 billion by 2025 through layoffs, reduced hours and potentially selling divisions. The chip maker currently employs more than 13,000 people throughout California.
Intel’s Folsom campus has been used for various R&D activities, including the development of SSDs, graphics processors, software and chipsets. The chip maker had said it was planning to cut its workforce to reduce costs in view of the challenging macro-economic environment.
According to earlier reports, the semiconductor major may lay off up to 20 percent of employees in its client computing and data center divisions.
