Home Technology Intel set to layoff more employees in the US by January 31 – Times of India

Intel set to layoff more employees in the US by January 31 – Times of India

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Intel set to layoff more employees in the US by January 31 – Times of India

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Intel reportedly began laying off employees in early December amid tough global macroeconomic conditions and it was said the company would cut multiple jobs in California. An official filing has now confirmed the number of employees that will be laid off and the date by which the process will be completed.
As per an official filing posted by the state Employment Development Department, Intel will eliminate about 201 jobs in Santa Clara by January 31. It was previously reported that about 90 employees would be impacted in the location. This suggests that “that number has more than doubled and that Intel now plans to eliminate 201 jobs”.

500 job cuts in California region
According to the Worker Adjustment and Retraining Notification (WARN) notice, layoffs at Intel are set to be completed by January 31. Separately, Intel is also eyeing the elimination of 343 jobs in the Sacramento County city of Folsom. In total, the chip giant plans to cut 500 jobs in California.
Media reports suggest that the impacted employees in Santa Clara and Folsom have received 60 days’ notice. “It is possible that some impacted employees may find comparable roles within Intel and remain employed,” the company was quoted as saying.

3-month unpaid leave
In December, media reports suggested that Intel was offering thousands of manufacturing employees three months of unpaid leave.
The number of job cuts at Intel in California was previously reported to affect 201 employees as “part of a broader cost-cutting effort.” At that time, it was said that 111 employees will be laid off at Intel’s Folsom, California location while “90 employees will be asked to leave from the Santa Clara location.”
The chipmaker is among a number of Silicon Valley giants, including Meta, Google, Amazon and Twitter, among others that have laid off employees in recent months.
In October, Intel said it plans to drive nearly $3 billion in annual savings in the near term and $8 billion to $10 billion by the end of 2025. It noted that the savings would majorly come from “people costs” from both operations and sales departments.

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