Intel Layoffs Reach Peak This Week: Employees Brace For Impact
According to CTECH, managers from all of Intel's divisions have already given their supervisors lists of workers who are suggested for layoffs
Struggling financially, Intel has announced the decision to layoff approx 15,000 positions, and this week is expected to be the height of the company's layoffs. CTECH reports that Intel is proceeding with its personnel reduction plan, with the goal of finishing the layoffs by the end of the year, after employees who chose to retire early left the company at the end of September.
According to CTECH, managers from all of Intel's divisions have already given their supervisors lists of workers who are suggested for layoffs. Notices to these employees will be sent soon; in fact, many should get notices as early as this week. According to comments made by Intel CEO Pat Gelsinger last month, the majority of layoff notices will be sent out by mid-October.
In a statement to staff members, CTECH cited Gelsinger as saying that Intel has already achieved half of its target of cutting 15,000 jobs by year's end, mostly through voluntary early retirements and separation benefits. With the next set of notifications scheduled for mid-October, he did concede that there will be more challenging choices to make.
Early in August, Intel declared that it would cease paying dividends and reduce its staff by about 15% beginning with the fourth quarter. This layoff plan is a part of Intel's larger strategy to undertake a $10 billion cost reorganisation.
