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Chip-maker Intel to continue to reduce cost through employee layoffs

Chip-maker Intel to continue to reduce cost through employee layoffs

San Francisco: As IT layoffs continue unabated, chip giant Intel has said that it intends to significantly downsize its personnel in order to minimise expenses while navigating a difficult macroeconomic environment.

The number of employees who would be affected by the impending layoffs was not disclosed by the corporation, though.

In a statement to USA Today, Intel said that it is working to accelerate its strategy while navigating a challenging macroeconomic environment.

"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.

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.

"Very unfortunate news, but massive layoffs at Intel coming! Intel's Data Centre and Client computing groups are receiving 10 per cent budget cuts, It's up to divisions to figure out how to cut, given fixed costs, means as much as 20 per cent layoffs in groups," tweeted Dylan Patel, chief analyst at market research firm SemiAnalysis.

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.

"These are difficult decisions, and we are committed to treating impacted employees with dignity and respect," the company had said in a statement.

Intel employs more than 22,000 at its Washington County campuses, according to Oregon Live.

Reports surfaced in January that Intel was making deeper job cuts that will hit at least hundreds of employees in the Bay Area and nearby places in the US.

With inputs from IANS

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