Tuesday, October 21, 2025
spot_img

Intel Corporation plans to layoff thousands of employees

spot_img
- Advertisement -

An American multinational corporation and technology company, Intel Corporation is planning thousands of Job cuts due to a slowdown in the personal computer market.

As per Bloomberg reports, the layoffs will affect nearly 20% of employees. The layoffs will be announced as early as this month and some of Intel’s divisions. The other departments that will be affected by the Job cuts include the sales and marketing group.

According to the reports, Intel Corporation had 113,700 employees as of July. This layoff will cause a serious reduction in headcount. However, the company has denied commenting on the job cuts.

In July, Intel cut its sales forecast for 2022 to $67 billion, down from $79 billion last year. During its second-quarter earnings call, Intel acknowledged that it could make changes to improve profits.

“We are also lowering core expenses in the calendar year 2022 and will look to take additional actions in the second half of the year,” Chief Executive Officer Pat Gelsinger said at the time.

The major reason for these layoffs is decades-high inflation and post-COVID-19 unlocking most of the offices have resumed work from offices and schools have reopened leading to the downfall of the computer market.

Additional US tensions with China also have clouded the chip industry’s future. The Biden administration announced new export curbs on Friday, restricting what US technologies companies can sell to the Asian nation.

Intel Corporation isn’t the only tech company to lay off employees. Recently, Meta was reportedly conducting ‘quiet layoffs‘ at Facebook that may lead to thousands of job cuts — at least 12,000 or about 15 percent of its workforce.

Earlier, HCL Technologies laid off 350 employees globally who were working on its client Microsoft’s news-related products.

Intel Corporation joined companies like HCL Technologies, Snap, Microsoft, Twitter, TikTok, and Google which have either laid off employees or frozen new hiring.

spot_img

Editorial

Why TCS Deferred FY25 Salary Hike: Better Hike Ahead?

TCS had initially announced its annual salary hike during...

Deloitte, PWC, EY, KPMG to Hire 1 Lakh People in India in FY25

According to estimates from top company officials and industry...

Higher EPS Pension Application Stuck: A Step-by-Step Guide to Fix

Nearly 97,640 Provident Fund (PF) members and pensioners under...

Employee Benefits at India’s Big 4 Firms Deloitte, PwC , EY, KPMG

The Big 4 firms; Deloitte, PwC (PricewaterhouseCoopers), EY (Ernst...

TCS Announces 4-8% Salary Hike for FY25, Lowest in Last 4 Years

Tata Consultancy Services (TCS), India's largest IT services provider,...

Must Read

Deloitte India Culture Sensing Report 2024–25 Unveils Key Insights

Deloitte India’s Culture Sensing Report 2024–25 positions workplace culture...

Amazon India to cover COVID-19 vaccination cost for more than 10 lakh people

Amazon India to cover COVID-19 vaccination cost for more...

Microsoft invites applications for freshers and experienced people hiring

Microsoft Corp, an American multinational technology company that produces...

IIIT-Delhi records campus placement rate of 98.10 per cent

Indraprastha Institute of Information Technology Delhi (IIIT-Delhi) has said it has...

AI is not yet a key skill for current MBA graduates, Report

Artificial Intelligence (AI) has undeniably become a transforming force...

Layoffs Continue in 2024, Salesforce, Microsoft, Google laying off employees

According to a Wall Street Journal report, the San...

Will Hybrid Workplaces Enhance Gender Equity?

The anticipated benefits of hybrid workplaces are still at...

Related Articles

Sheenu Pradhan
Sheenu Pradhanhttps://sightsinplus.com/
Sheenu Pradhan, Editor Content, SightsIn Plus. She has over 8 years of experience in human resources. Prior to this, she has been associated with Wictor Chemicals India, Wipro, and Shakti Plas Industry.