Intel Mass Layoffs: Intel started firing people, 2 thousand jobs affected!
In early August, Intel announced mass layoffs, in which the company’s CEO informed employees that the company was now going to reduce its expenses. At that time it was said that 15 thousand employees would be laid off. This was 15 percent of the company’s total workforce. Now, Intel has started implementing these layoffs, which have affected more than 2,000 jobs in several US states. In August, it was told that this step has been taken by the company to reduce its financial condition and some difficulties faced by the company in the second quarter of this year.
According to a TOI report, Intel has started implementing the large mass layoffs announced in August. This move has affected more than 2,000 jobs in several US states. It is being told that about 1,300 employees in Oregon, 385 in Arizona, 319 in California and 251 in Texas will lose their jobs due to the layoffs. The cuts are going to start from November 15, in which employees will get 60 days or four weeks’ notice with extra salary and benefits.
In early August, when the layoffs were announced by Intel, CEO Pat Gelsinger informed the employees that the company was going to reduce its expenses. Intel had said at that time that the company would lay off 15,000 employees. This was 15 percent of the company’s total workforce. The company took this step to improve its financial condition. Gelsinger had said at that time that this step was very difficult, but also very important.
For the last few months, the tech industry has been facing great turmoil. Workforce is being continuously reduced in big tech companies. Some companies are doing this due to losses, while some companies are thinking of reducing the expenditure on employees to invest in new AI-based technology. In August alone, more than 27 thousand employees lost their jobs, including the announcement of Intel as well as big names like IBM and Cisco. Along with this, many small startups have also done layoffs. If we talk about 2024, from the beginning till August, layoffs were announced in 422 companies.
