New Delhi: Intel is reportedly planning to lay off 15 to 20% of its plant workers, potentially one of the biggest staff reductions in the company’s manufacturing division. Over 10,000 jobs are anticipated to be impacted by the change.
As the chipmaker continues to suffer operational and financial challenges, the job cuts, which are anticipated to begin in July, are a part of a larger cost-cutting initiative.
According to reports, Intel Manufacturing Vice-President Naga Chandrasekaran wrote an email to employees last week, stating: “These are difficult actions but essential to meet our affordability challenges and the current financial position of the company. It drives pain to every individual.”
Intel said in a statement that it would “treat people with care and respect as we complete this important work”.
“Removing organisational complexity and empowering our engineers will enable us to better serve the needs of our customers and strengthen our execution. We are making these decisions based on careful consideration of what’s needed to position our business for the future,” the company further added.
Intel laid off 15,000 employees last year, including 3,000 in Oregon. The corporation has stated that, in contrast to that round, this round of layoffs will be decided by individual performance, skills evaluations, and investment objectives rather than voluntary exits or buyouts.
“These reductions will be based on a combination of portfolio changes, level and position elimination, skill assessment for remaining positions and some hard decisions around our project investments,” Chandrasekaran said.
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