Bay Area: Intel To Lay Off 235 Employees; See Details

 

In its sixth round of layoffs this year, American multinational conglomerate and technology major Intel plans to let go of 235 workers. The corporation, which has its headquarters in Santa Clara, has announced that it will be terminating employees at its research and development center located in Folsom, Sacramento County, in the San Francisco Bay Area, a region of California.

“Intel is striving to accelerate its strategy while reducing costs through multiple initiatives, including some business and function-specific workplace reductions across the company,” a company spokeswoman stated.

On December 31, the business will lay off 235 workers at its research and development plant in Folsom, Sacramento County, as part of its fifth round of employment cuts this year.

There will be layoffs over two weeks. There will be more layoffs in the upcoming year. By 2025, Intel wants to reduce expenses by $10 billion. The corporation will sell divisions, cut hours, and lay off employees to reach its target.

There will be layoffs in January and December. Previously, 549 workers, or slightly more than 10% of the overall workforce, were let go by Intel from its Folsom location. Intel intended to fire about 300 workers in a variety of roles located in California in August.

During the past few months, Intel has been laying off employees. A total of 315 workers were impacted by the layoffs: 175 worked in the Santa Clara headquarters of the corporation, 89 in Folsom, and 51 in San Jose.

By the conclusion of 2022, the company employed 131,900 people. At the moment, the corporation employs about 13,000 individuals in California.