On August 1, Intel CEO Pat Gelsinger called the company’s Q2 performance “disappointing” [File]
| Photo Credit: REUTERS
Intel has submitted in an official document that it plans to reduce staff, laying off 1,300 people spread across four offices in the U.S. state of Oregon.
As per the document dated October 15, Intel said it had notified the affected employees weeks in advance and that the first round of cuts will take place over two weeks, starting on November 15.
“No affected employees will have the right to bump or displace other employees, and there is no union representing the affected employees,” said the company in its filing, adding that a list of affected positions would be made available for the authorities.
Intel reported the upcoming layoffs as per the requirements of the Federal Worker Adjustment Retraining and Notification Act (WARN) in the U.S.
The impacted Intel locations in Oregon are 3585 SW 198th Ave., Aloha, OR 97078; 2501 NE Century Blvd, Hillsboro, OR 97124; 5200 NE Elam Young Pkwy., Hillsboro, OR 97124; and 2111 NE 25th Ave., Hillsboro, OR 97124.
On August 1, Intel CEO Pat Gelsinger called the company’s Q2 performance “disappointing.” Intel in a press release also confirmed that it would be reducing its expenses, expenditure, and headcount.
“Intel expects to reduce headcount by greater than 15% with the majority completed by the end of 2024,” noted the company in August.
The tech and computing giant has faced criticism for falling behind in the generative AI race as its competitors rushed to create products that would fulfill the needs of AI-powered device users.
Published – October 22, 2024 11:24 am IST
