News: After biggest quarterly loss, Intel lays off over 100 employees

Strategic HR

After biggest quarterly loss, Intel lays off over 100 employees

Employees from departments such as GPU software development, system software development, product marketing, and other teams will be affected by the upcoming layoffs.
After biggest quarterly loss, Intel lays off over 100 employees

Intel, the American chipmaker, has taken the step of laying off more than one hundred employees within the United States as a cost-cutting measure. Earlier in May, the company revealed its plan to reduce its workforce in response to financial setbacks.

As reported by USAToday earlier this year, the company conveyed through an email statement that it is striving to expedite its strategy while maneuvering through a complex macro-economic landscape.

"We continue to invest in areas core to our business, including our US-based manufacturing operations, to ensure we are well-positioned for long-term growth," the statement had added. However, Intel had not confirmed the count of employees who would be affected by the upcoming layoffs.

According to IANS, the new wave of job cuts will have an impact on employees from diverse teams, encompassing roles in GPU software development, system software development, product marketing, and other areas.

Sacramento Inno reported that the layoffs are scheduled to be implemented by the end of this month. While the exact number of impacted employees is yet to be determined, the report asserted that a minimum of 140 individuals situated in the United States will face the job loss. 

Meanwhile, 89 employees from the company's Folsom R&D campus and 51 employees in San Jose, California, are reported to be among those affected.

Furthermore, the layoffs will affect a variety of roles including:  

  • 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 layoff

Reports published in June of this year revealed that the company was considering the sale of its Bengaluru office due to its shift towards a hybrid-first operational model. Intel's office space spanning 250,000 square feet on Old Airport Road was already undergoing a bidding process. Many real estate developers had submitted bids, with expectations that the transaction would surpass Rs 450 crore.

The report further indicated that Intel's intention is to lease the office space from the prospective new owners once an agreement is reached. According to IANS, there is a possibility that the lease might span three years. 

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Topics: Strategic HR, #HRCommunity, #Layoffs, #HRTech

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