Intel layoffs announced in July cross 5,000, numbers increase by 4 times in …
Intel, the global semiconductor giant has announced a a wave of layoffs in July, with the total number of employees crossing the 5,000 mark. This wave of wave of layoffs will affect more than 5,000 employees in the US making it one the largest workforce reductions in the history of Intel. These layoffs are said to be part of the company’s restructuring plan under the new CEO Lip-Bu Tan. The company aims to streamline operations and reverse deep financial losses with these job cuts. The layoffs comes at a time when Intel is trying to navigate through the challenging market environment and implement cost-cutting measures.
Intel layoffs: The company to fire more than 5000 employees
As reported by Manufacturing Dive, the Worker Adjustment and Retaining Notification (WARN) fillings reveals Intel’s workforce in California and Oregon will be worst hit by this round of layoffs. The report also adds that apart from California and Oregon, employees in Arizona and Texas will also be impacted by the layoffs. The report adds that Intel has quadrupled its layoff count in Oregon and the company is now planning to cut 2,392 jobs, up four times from earlier estimates of around 500. On the other hand, California will witness 1,935 job losses. Whereas, in Arizona and Texas around 696 and several hundreds of employees will face jobs cuts.
Intel layoffs: Employees in these departments will be affected
Intel’s July layoff wave will impact the engineers in the chip design, cloud software and manufacturing unit. Along with this, senior leaders including business heads and a VP of IT will also face the heat. Other than this, the back-office roles in HR, marketing and training will face job cuts. Lastly, the company will also be eliminating 20% workforce from the Intel’s foundry division.Intel says the layoffs are designed to “remove organizational complexity” and empower smaller, high-performing teams. Some marketing functions will be outsourced to Accenture, which may use AI tools for customer communications.This move follows 15,000 job cuts in 2024, bringing Intel’s total layoffs over the past year to more than 20,000. The report further adds that the affected employees will be soon given a notice. The workers will be given a period of four weeks and they will get the salaries and other benefits for nine more weeks.
