Intel Layoffs
December 2023
Intel announced a layoff affecting 311 employees in December 2023. The company operates in the Hardware sector.
311
Dec 21, 2023
About
Intel laid off 311 employees in California just before the holidays, with 235 positions cut at its Folsom offices and 76 at its Santa Clara headquarters, effective December 31, 2023. This represents a small fraction of its global workforce of about 110,000. The layoffs are part of Intel's broader cost-cutting strategy, aiming to reduce annual spending by $3 billion in 2023 and $10 billion by 2025, following a challenging fiscal year that began with significant losses. The semiconductor giant has also canceled several projects and product lines to streamline operations and accelerate its strategic goals amid competitive pressures.
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