California-based chipmaker Intel is laying off over 2,000 employees in the United States as part of its cost-cutting measures, reported CRN. The layoffs will affect approximately 1,300 workers in Oregon, 385 in Arizona, and 219 in California. Additionally, another 251 job cuts are anticipated in Texas.
An Intel spokesperson confirmed that these job cuts are part of the 15,000 layoffs announced by Intel CEO Pat Gelsinger in August. Gelsinger stated that the layoffs were intended to reduce costs by over $10 billion due to the company’s financial difficulties.
Another restructure, another round of layoffs. This time it’s my turn to say goodbye. I’m so proud of this team and so very proud of myself for everything we accomplished at Intel. I’ve never worked so hard or learned so much, and I’m ready for what’s next. pic.twitter.com/LPm1Dl5xts
— Matthew Hayes (@MatthewFace) October 15, 2024
As per a report by CNBC TV, Intel has faced significant challenges since ARM-based processors and NVIDIA emerged as major competitors. Once a leader in computing technology, the company is now struggling to find its footing. With its stock price plummeting nearly 60% this year, Intel has initiated its latest cost-cutting measure, laying off 15,000 employees starting this week. The move is part of CEO Pat Gelsinger’s plan to cut costs by $10 billion.
Several impacted employees have shared this news on social media. One wrote, “Another restructure, another round of layoffs. This time it’s my turn to say goodbye.”
As part of the comprehensive cost savings plan announced in August, the company is making the difficult but necessary decision to reduce its workforce size. These choices are among the toughest the organization faces, and it is committed to treating employees with care and respect throughout the process, according to a spokesperson’s statement to CRN.
ALSO SEE: Meta Layoffs: Reality Labs, Instagram, WhatsApp Hit by Job Cuts
In a letter to employees on September 16, Gelsinger stated, “As we continue acting with urgency to execute the plan we announced last month, we are also working to carefully manage our cash as we meaningfully improve our balance sheet and liquidity … All eyes will remain on us. We need to fight for every inch and execute better than ever before.”
Intel to cut nearly 400 jobs in Arizona as part of wider layoffs Intel Corp. is laying off hundreds of workers in Arizona as part of the chipmaker’s overall plans to cut 15,000 jobs globally.
VOTE , VOTE VOTE
— Diana Shoshone #AZINVASION (@DianaShoshone) October 17, 2024
Not just Intel, Tech giant Meta has also fired more than two dozen employees in its Los Angeles office for allegedly misusing $25 meal credits. In addition to that, Meta has also announced layoffs across its WhatsApp, Instagram, and Reality Labs divisions.
ALSO SEE: Grubgate Scandal: Meta’s Free Food Frenzy Leads to Layoffs; Here’s What Happened
