[News] Intel Employees Prepare for Layoff Notices as Cuts Enter Peak Phase This Week

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Intel, grappling with financial difficulties, is set to enter a peak phase of layoffs this week after announcing plans to cut around 15,000 jobs. According to a report by CTECH, following the departure of employees who opted for early retirement at the end of September, Intel is moving forward with its workforce reduction plan, aiming to complete the layoffs by the end of the year.

CTECH reported that managers across Intel’s divisions have already submitted lists of employees recommended for layoffs to their superiors. These employees will soon be notified, with many expected to receive notices as early as this week. Intel’s CEO, Pat Gelsinger, stated last month that most layoff notices will be issued around mid-October.

CTECH quoted Gelsinger in a message to employees, stating that Intel has already passed the halfway mark in its goal of reducing the workforce by approximately 15,000 employees by the end of the year, largely through voluntary early retirements and separation packages. However, he acknowledged that more difficult decisions lie ahead, with the next round of notifications expected in mid-October.

Intel announced in early August that it would cut approximately 15% of its workforce and suspend dividend payments starting in the fourth quarter. This layoff plan is part of Intel’s broader effort to implement a $10 billion cost restructuring

Then, on September 16th, Intel announced plans to transform its foundry business into a wholly-owned subsidiary with its own board of directors.

(Photo credit: Intel)