Intel is set to let go of over 200 staff and is giving manufacturing workers three months of unpaid leave

As we also revealed in October, chipmaker Intel is reportedly about to begin terminating staff members. A report from CRN claims that on January 31, Intel will start terminating staff. The corporation cites low revenues due to the macroeconomic environment as the cause of the mass layoffs.

According to the article, the corporation will lay off at least 201 staff as “part of a bigger cost-cutting initiative.” According to the report, 111 employees would be remove from Intel’s Folsom, California, site due to “Worker Adjustment and Retraining Notifications.” While “90 staff from the Santa Clara site, where the company is locate, will be ask to go,”

According to another Oregon Live source,

the chipmaker provides thousands of manufacturing and factory workers worldwide with three months of unpaid leave. “A critical component of putting Intel in a position for long-term success is retaining our manufacturing personnel. The chipmaker was quote in the report as saying, “Voluntary time off programs give us a chance to lower short-term costs and provide employees with enticing time off options. According to a recent article in The Financial Times, the company has extended an offer of three months of unpaid leave to Intel employees in Ireland.

Intel Image

Recall that Intel CEO Pat Gelsinger stated the company is “responding to the current climate by making strong efforts to decrease expenses” during the company’s third-quarter results call in October. “Steps to optimize our headcount will be include in our efforts. We need to strike a balance between increasing investment and our devoted Intel family, which makes these decisions challenging, the CEO of Intel said on the results call.

Hundreds of staff are living let go by several Indian businesses, including Swiggy and the tech venture Vedantu. According to estimates, Swiggy intends to fire about 250 workers this month. Vedantu, an ed-tech startup, is also say to have fired up to 385 workers in the fourth round of layoffs.

— END —

Leave a Reply

Your email address will not be published. Required fields are marked *