Highlights

  • Intel is reducing its workforce by 235 employees
  • This is Intel's fifth round of layoffs
  • Move to implement rigorous cost-saving measures

Latest news

Independent fact-finding team on way to Sandeshkhali detained

Independent fact-finding team on way to Sandeshkhali detained

Video of parking worker threatening IPS officer goes viral

Video of parking worker threatening IPS officer goes viral

Former Haryana MLA Nafe Singh Rathee, his associate shot dead

Former Haryana MLA Nafe Singh Rathee, his associate shot dead

Haris Rauf ruled out of PSL due to shoulder injury

Haris Rauf ruled out of PSL due to shoulder injury

Arvind Kejriwal says he 'should be getting Nobel Prize'. Here's why

Arvind Kejriwal says he 'should be getting Nobel Prize'. Here's why

France expels Tunisian imam for calling national flag 'satanic', cleric vows to appeal decision

France expels Tunisian imam for calling national flag 'satanic', cleric vows to appeal decision

Train ran for 84 km without driver, stopped in Punjab; video goes viral

Train ran for 84 km without driver, stopped in Punjab; video goes viral

Netizens aghast at umpire Rod Tucker’s decisions, call him biased against India | IND vs ENG 4th Test

Netizens aghast at umpire Rod Tucker’s decisions, call him biased against India | IND vs ENG 4th Test

Intel Layoffs 2023: Over 200 employees let go amid 5th round of job cuts this year

This latest announcement follows prior cuts, totaling 549 positions at the Folsom campus, marking over 10% of the overall staff

Intel Layoffs 2023: Over 200 employees let go amid 5th round of job cuts this year

Intel Layoffs 2023: Intel, the chip giant, is undergoing its fifth round of job cuts for the year, reducing its workforce by 235 employees. Moreover, indications suggest the possibility of further job losses within the company in 2024.

Intel Fifth Round of Layoffs 2023

These layoffs are slated to occur at the research and development hub situated in Folsom, Sacramento County. This latest announcement follows prior cuts, totaling 549 positions at the Folsom campus, marking over 10% of the overall staff.

Company's Stance on Job Cuts

A spokesperson from Intel articulated the company's focus on accelerating its strategy while simultaneously executing multiple cost-saving initiatives, encompassing targeted workforce reductions within specific business sectors. Intel aims to curtail expenses by $10 billion by 2025, a goal outlined in the previous year.

Implications and Future Projections

Reports suggest that additional job losses might materialize, with potential cuts forecasted for the client computing and data center divisions, impacting up to 20% of the employees. Furthermore, the spokesperson hinted at the possibility of further reductions in 2024, signaling a continued restructuring phase within the Santa Clara-based company.

Strategic Context and Company Goals

Intel's restructuring aligns with its overarching objective of navigating a challenging macroeconomic environment while striving to achieve a $10 billion cost reduction by 2025. The company, which currently employs over 13,000 individuals in California, seeks to streamline its workforce and operations to adapt to evolving market dynamics.

As Intel undertakes these pivotal changes, including layoffs and strategic realignments, the company remains committed to enhancing its competitive edge while strategically maneuvering through a complex economic landscape.


Up Next

Intel Layoffs 2023: Over 200 employees let go amid 5th round of job cuts this year

Intel Layoffs 2023: Over 200 employees let go amid 5th round of job cuts this year

Government aims for record road construction in FY24

Government aims for record road construction in FY24

Investors oust Raveendran; Byju's calls decision invalid

Investors oust Raveendran; Byju's calls decision invalid

Paytm crisis: RBI announces roadmap to ensure smooth transition for users with @paytm handles

Paytm crisis: RBI announces roadmap to ensure smooth transition for users with @paytm handles

Indian semi-conductor stocks rally after Nvidia's record gain

Indian semi-conductor stocks rally after Nvidia's record gain

Kia announces voluntary recall of over 4,300 Seltos cars in India

Kia announces voluntary recall of over 4,300 Seltos cars in India

More videos

Maharashtra FDA cracks down on McDonald's for using cheese substitutes

Maharashtra FDA cracks down on McDonald's for using cheese substitutes

Byju's investors file oppression, mismanagement suit against co-founder Raveendran at NCLT

Byju's investors file oppression, mismanagement suit against co-founder Raveendran at NCLT

Yulu raises $19.25 million from Magna, Bajaj Auto to fuel expansion plans

Yulu raises $19.25 million from Magna, Bajaj Auto to fuel expansion plans

Paytm app downloads plummet after RBI restrictions; BHIM UPI sees 49% surge

Paytm app downloads plummet after RBI restrictions; BHIM UPI sees 49% surge

Invest Smart: Expert guide for first-time mutual fund investors

Invest Smart: Expert guide for first-time mutual fund investors

Goldman Sachs downgrades SBI, ICICI, Yes Bank, says headwinds intensifying for financial services

Goldman Sachs downgrades SBI, ICICI, Yes Bank, says headwinds intensifying for financial services

Nvidia's rise propels CEO Jensen Huang to become world's 24th richest; here's everything about him

Nvidia's rise propels CEO Jensen Huang to become world's 24th richest; here's everything about him

US based Vice Media to lay off several hundreds, to stop website publishing

US based Vice Media to lay off several hundreds, to stop website publishing

BYJU's founder and board declare EGM invalid, decide to skip the meet

BYJU's founder and board declare EGM invalid, decide to skip the meet

Gold, Silver Price Today February 23, 2024: Check Latest Rates in Mumbai, Delhi, Chennai, Bengaluru

Gold, Silver Price Today February 23, 2024: Check Latest Rates in Mumbai, Delhi, Chennai, Bengaluru

Editorji Technologies Pvt. Ltd. © 2022 All Rights Reserved.