Intel Layoffs Continue as Chip-Maker Cuts 140 Jobs in US to Reduce Costs
The company is reportedly laying off 10 GPU software development engineers, eight system software development engineers, six cloud software engineers, six product marketing engineers, and six system-on-chip design engineers, along with others.
San Francisco, August 20: Chip-maker Intel is laying off at least 140 more employees in the US to reduce costs -- 89 employees at its Folsom R&D campus and 51 in San Jose, California. The fresh job cuts have been reported to state employment officials and will take effect at the end of the month, reports Sacramento Inno.
The company is reportedly laying off 10 GPU software development engineers, eight system software development engineers, six cloud software engineers, six product marketing engineers, and six system-on-chip design engineers, along with others.
This latest job cuts mark nearly 500 positions removed from the Folsom R&D campus in the current year. As of early 2022, Intel had 5,300 employees in Folsom, according to Tom's Hardware. Intel's Folsom campus has been used for a variety of R&D activities, including development of SSDs, graphics processors, software and chipsets.
In May this year, the chip manufacturer had confirmed that it plans to further cut its workforce to reduce costs while navigating a challenging macro-economic environment. The company, however, did not reveal how many employees will be impacted in the upcoming layoffs.
“We are focused on identifying cost reductions and efficiency gains through multiple initiatives, including some business and function-specific workforce reductions in areas across the company,” an Intel spokesperson was quoted as saying in reports.
According to reports, the semiconductor major may lay off up to 20 per cent of the employees at its client computing and data centre divisions. Last October, Intel announced plans to cut its expenses by $3 billion this year. Intel laid off more than 500 employees in California in job cuts announced last fall, according to filings with state workforce agencies. Intel employs more than 22,000 at its Washington County campuses, according to reports.
(The above story first appeared on LatestLY on Aug 20, 2023 11:36 AM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).