Intel Announces Job Cuts

Workforce Reduction by 5%

Impact on Workforce and Company

In a recent announcement, Intel has declared a 5% workforce reduction, resulting in the elimination of approximately 12,4800 positions by the end of 2023. This decision follows a series of job cuts initiated in October 2022.

Intel's decision stems from the need to optimize its operations and enhance efficiency in the face of challenging market conditions. The company aims to focus on strategic initiatives and growth areas while reducing costs.

The reduction will impact employees across various departments and locations, subject to local labor laws and regulations. Intel has stated that it will provide support and severance packages to affected employees.