Intel’s Cost-Cutting Measures Persist: Over 100 Employees Terminated in Ongoing Layoffs

Intel Corporation has recently undertaken a cost-cutting measure that resulted in the termination of more than 100 employees. This workforce reduction has notably affected individuals within various departments, including product marketing and GPU software development, among others.

Intel's Cost-Cutting Measures Lead to Layoffs of Over 100 US Employees

Summary :

  • Workforce Reduction: Intel’s Layoffs Affect Over 100 Employees in the US
  • Impact on Personnel: At Least 140 Individuals Affected by the Workforce Changes
  • Cost-Cutting Measures: Company Implements Layoffs as a Strategy to Reduce Expenditures

Intel, the American semiconductor giant, has initiated a significant round of layoffs in the United States as part of its cost-cutting efforts, according to a report from IANS. This move follows Intel’s prior announcement in May that it would undertake layoffs to mitigate financial losses. In an earlier statement reported by USAToday, the company stated it was “working to accelerate its strategy while navigating a challenging macro-economic environment.”

The company emphasized its ongoing investments in critical areas, including its U.S.-based manufacturing operations, to secure a robust position for future growth. Notably, the exact number of individuals affected by these impending layoffs was not disclosed by Intel at that time.

The latest round of job cuts, per IANS, will impact various teams, including GPU software development, system software development, and product marketing, among others.

Details on Intel’s Layoffs

According to Sacramento Inno, the layoffs are slated to take effect by the end of this month. While the precise figure of affected personnel remains undisclosed, the report indicates that at least 140 U.S.-based employees will lose their jobs. This includes 89 employees from the company’s Folsom R&D campus and 51 employees in San Jose, California.

Delving into specifics, the affected workforce comprises ten GPU software development engineers, eight system software development engineers, six cloud software engineers, six product marketing engineers, and six system-on-chip design engineers, among others.

Intel India’s Office Sale

Shifting focus to Intel India, reports emerged in June indicating the company’s intention to sell its Bengaluru office space as part of its transition toward a “hybrid-first” work model. An Economic Times report disclosed that Intel’s 250,000 square feet office on Old Airport Road had entered a bidding process, with several prominent builders participating. The anticipated deal was expected to exceed Rs 450 crore.

Additionally, it was reported that Intel intended to lease the office space from the new owners, likely for a three-year term, as per insiders familiar with the matter. Intel confirmed this move via an email to ET, asserting that they are actively assessing how to optimize their office space usage and reduce expenses. Consequently, the company plans to consolidate some of its Bengaluru offices as part of this strategic shift.

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