The prevailing uncertainties in the economy and global market have led to many companies pausing hiring. Intel is the latest to join the list. However, the Company intends to honour all the present job offers. Though hiring will slow down overall, Intel still plans to add 23,000 new hires over the next three months.
The American multinational tech firm has put on hold all hiring in the client computing (CCG) division, according to Reuters. Once it assesses the situation and re-examines its priorities, it may resume part of the hiring after two weeks.
This hiring pause is also part of Intel’s efforts to cut costs. That is why, it intends to reduce travel for members of the CCG division. To make this happen, it will encourage more virtual meetings and limit participation in industry seminars and conferences.
Employees have been informed about the two-week hiring freeze in the CCG, and have been told that the move will help Intel to better prepare for the uncertainties of the economy and the market.
The CCG designs hardware and accounts for the maximum sales at Intel. It reportedly generated sales worth $9.3 billion out of the total earnings of the Company of about $18.4 billion in the last quarter. However, the earnings of the CCG were 13 per cent lower than it made during the same period last year. No other division has incurred such a loss.