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Title: Intel Will Lay Off 15% To 20% of Its Factory Workers, Memo Says

Link: https://slashdot.org/story/25/06/16/2132227/i...

Intel will lay off 15% to 20% of its factory workforce starting in July,
potentially cutting over 10,000 jobs as part of a broader effort to
streamline operations amid declining sales and mounting competitive pressure.
"These are difficult actions but essential to meet our affordability
challenges and current financial position of the company. It drives pain to
every individual," Intel manufacturing Vice President Naga Chandrasekaran
wrote to employees Saturday. "Removing organizational complexity and
empowering our engineers will enable us to better serve the needs of our
customers and strengthen our execution. We are making these decisions based
on careful consideration of what's needed to position our business for the
future." The company reiterated that "we will treat people with care and
respect as we complete this important work." Oregon Live reports: Intel
announced the pending layoffs in April and notified factory workers last week
that the cuts would begin in July. It hadn't previously said just how deep
the layoffs will go. The company had 109,000 employees at the end of 2024,
but it's not clear how many of those worked in its factory division -- called
Intel Foundry. The Foundry business includes a broad array of jobs, from
technicians on the factory floor to specialized researchers who work years in
advance to develop future generations of microprocessors. Intel is planning
major cuts in other parts of its business, too, but employees say the company
hasn't specified how many jobs it will eliminate in each business unit.
Workers say they believe the impacts will vary within departments. Overall,
though, the layoffs will surely eliminate several thousand jobs -- and quite
possibly more than 10,000.

Read more of this story at Slashdot.

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