Intel Layoffs

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Intel, the largest employer in Folsom, California, is laying off another 58 employees at its Folsom campus, with the cuts expected by March 31, 2025. This latest reduction is part of the company's ongoing cost-cutting strategy in response to stagnant sales and heightened competition. The Folsom site, which once employed over 6,000 people in 2018, now has fewer than 4,000 workers, reflecting a significant downsizing over recent years. These layoffs align with Intel's broader restructuring plan, which aims to cut approximately 15,000 jobs globally. The company is also selling its 150-acre Folsom campus in a sale-leaseback deal to free up capital, further signaling its strategic shift in the competitive semiconductor industry.

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