Intel Also Begins layoffs And Offers Unpaid Leave To The Labours
Intel has started laying off employees while also providing three months of unpaid leaves to the thousands of manufacturing employees. This move has taken as the company aims to weather the poor sales amid global macroeconomic conditions.
As per the reports of CRN, The company started its expected layoffs in California with at least 201 employees as "part of a broader cost-cutting effort."
According to another report in Oregon live, Intel also offering three months of unpaid leave to thousands of manufacturing employees.
A report informed, Intel CEO Pat Gelsinger said, "Inclusive in our efforts will be steps to optimise our headcount. These are difficult decisions affecting our loyal Intel family, but we need to balance the increased investment. Responding to the current environment by taking aggressive actions to reduce costs."
In October, the company said it plans to drive nearly USD 3 billion in annual savings in the near term and USD 8 billion to USD 10 billion by the end of 2025. And these savings will majorly come from "people costs" from both operations and sales departments.
