As tech layoffs persist without restraint, the chipmaker giant, Intel, confirms its intention to reduce its workforce as a means of cutting expenses and navigating a tough macroeconomic climate. The company didn’t reveal the number of job cuts, however, many roles are expected to get affected by the decision.
This comes after Intel had revealed in October 2022, its goal of cutting expenses by $3 billion in the current year.
As reported by a USA daily, the company is planning to give a boost to its overall company strategy, while coping with the unexpected market and economic conditions.
One spokesperson from the firm stated that the company is currently focused towards reducing the overall cost to gain maximum efficiency through its upcoming initiatives. Additionally, it is also said that Intel has decided to consider some restructuring across its business and function-specific workforce to support its future plans.
Although the company hasn’t revealed any official data on the layoffs, some of the reports suggest that the semiconductor major may consider 20 per cent workforce reduction, especially in its client computing and data centre divisions.
Furthermore, Dylan Patel, who works as a chief analyst at market research firm SemiAnalysis, took to Twitter to express his disappointment at the latest development. Patel tweeted that significant layoffs were in store for Intel, with the Data Center and Client Computing groups receiving 10 per cent budget cuts. As a result of fixed costs, divisions may have to make cuts that could result in up to 20 percent layoffs in certain groups.
