Home » US business news • US Employment News » Intel to cut 111 staff in California
Intel to cut 111 staff in California
https://www.whatjobs.com/news/usa/us-business-news/intel-to-cut-111-staff-in-california
By Nithya Bose in US business news, posted December 6, 2022
Intel plans to eliminate 111 roles in Folsom as part of its planned 201 layoffs statewide.
The chipmaker confirmed the job cuts in a pair of letters sent to state employment authorities on Friday, December 2.
Intel's employment and labor legal group director Carolann Bullock said the number of jobs removed is an estimate and the overall count may be higher.
READ MORE: AMAZON’S JOB CUTS NOW EXPECTED TO REACH 20,000
Bullock stated that the impacted staff will be laid off over a two-week period starting on January 31.
She said: "This announcement and the above timetable are based on the best information currently available.
"We will inform you of any significant changes in these plans as additional information becomes available."
Intel is the largest tech business in the Sacramento area, with 5,300 local workers as of August.
It maintains a significant research and development facility on Prairie City Road in Folsom.
READ MORE: BANKING GIANT MORGAN STANLEY MAKING “MODEST” STAFF REDUCTIONS AS BOSS PRAISES TWITTER OWNER ELON MUSK
In addition, the corporation is cutting around 90 people at its headquarters in Santa Clara.
The letters came a little over a month after company officials revealed plans to cut staff from this quarter as part of a $3 billion cost-cutting push next year.
The business has been struggling with declining profitability and sales due to a drop in demand for both its PC and data center chips.
The redundancies outlined in the letters affect Intel's Folsom Research and development center and its Santa Clara campus.
Need Career Advice? Get employment skills advice at all levels of your career
Intel spokeswoman Addy Burr said these are part of the larger layoffs and cost-cutting drive.
She said: "These are very difficult decisions, but we are taking these actions to ensure we are well-positioned for long-term growth.
Burr did not immediately respond to a request for more details regarding the Folsom layoffs.
Bullock did not reveal the positions being eliminated.
She also stated that the chipmaker intends to give all employees who are being let go 60 days' notice.
Source: The Business Journals
Follow us on YouTube, Twitter, LinkedIn, and Facebook.
