Intel offering 3 months of unpaid leave to employees as a result of cost-cutting measures. The chipmaker company is also laying off its employees to curb losses.
Factory and manufacturing workers globally are being given time off options as a step to retain their talent base. In the aftermath of macroeconomic conditions, this aggressive step has been taken by the firm.
The firm is also about to lay off over 200 employees due to current market conditions. Intel could not perform as expected on its sales front and therefore mass layoff is being executed. The firing of employees will start from next month i.e. January.
The layoff has recently been the most discussed topic across economies and many tech players have opted for Layoffs such as Twitter, Amazon, and Meta. Some Indian companies such as Vedantu, Ola, and Byju have already done layoffs and announced slackening growth.
In the global economic turbulence of current times, organizations such as Intel are also making worldwide worker adjustments.
The announced layoff is projected to take place in California, Santa Clara location, and the 3 months of unpaid leaves have been announced in Ireland.
- The global market is undergoing turbulence and therefore companies are making worker adjustments.
- Three months of unpaid leaves and employee time-offs are being given by Intel as a measure to retain its talent pool as well as avoid short-term costs.
- The firm is not able to gain effective sales in the current market scenario and therefore this step was taken as a measure to balance the expenses.