Chip maker Intel has confirmed that it plans to further cut its workforce to reduce costs while navigating a challenging macro-economic environment, as tech layoffs continue unabated. However, the company did not specify how many employees would be affected by the upcoming layoffs.
In a statement to USA TODAY, Intel said it is working to accelerate its strategy while navigating a challenging macroeconomic environment. An Intel spokesperson was quoted as saying, “We are focused on driving cost reductions and identifying efficiency gains through a number of initiatives, including certain business and function-specific workforce reductions across areas of the company. “
As per reports, the semiconductor major may lay off up to 20 per cent of the workforce in its client computing and data center divisions. “Very unfortunate news, but massive layoffs are coming at Intel! Intel’s data center and client computing groups are getting a 10 percent budget cut, it’s up to the divisions to decide how to make the cuts, given fixed costs, The groups mean 20 percent layoffs, tweeted Dylan Patel, principal analyst at market research firm Semianalysis.
Last October, Intel announced plans to cut its expenses by $3 billion this year. Intel announced job cuts to more than 500 employees in California, according to filings with state workforce agencies. “These are difficult decisions and we are committed to treating affected employees with dignity and respect,” the company said in a statement.
According to Oregon Live, Intel employs more than 22,000 at its Washington County campuses. Reports emerged in January that Intel is making deep job cuts that will affect at least hundreds of employees in the Bay Area and locations around the US.
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