Massive Layoffs Hit THIS Tech Giant: More Than 5,000 Jobs Slashed, Departments Affected Are….. | Economy News
New Delhi: Chipmaker Intel is set to lay off around 5,500 employees across the US in a fresh round of job cuts, The job cut is aimed at trimming costs and tackling ongoing financial challenges. The move will impact engineers, senior executives, and support staff. This comes after the company had already cut 15,000 jobs earlier this year and is now going beyond its previously estimated target of 4,000 layoffs.
Thousands Affected Across Key Intel Locations
As per WARN filings, Intel’s job cuts have doubled in California, affecting 1,935 employees across Santa Clara and Folsom. Meanwhile, 2,392 workers have reportedly been laid off in Hillsboro, Oregon, and another 696 in Chandler, Arizona. These figures were revealed in an internal email dated July 9, cited by Manufacturing Dive.
In Arizona alone, Intel plans to cut 696 jobs, bringing the total number of layoffs to 5,500, according to a report by The Times of India (TOI). The job cuts will affect employees across various roles—from engineers and senior leaders to support staff—highlighting the scale of the company’s ongoing restructuring.
Intel Plans 20 Per Cent Workforce Reduction
Intel is set to reduce its total workforce by 20 per cent as part of a major restructuring drive led by newly appointed CEO Lip-Bu Tan. The move is aimed at cutting costs and helping the company reclaim its position in the global semiconductor race.
In a recent internal meeting, Tan admitted to employees that Intel has lost its edge. “20, 30 years ago, we were really the leader. Now… we are not in the top 10 semiconductor companies,” he reportedly said, as cited by OregonLive and The Economic Times.
Intel’s market value has dropped sharply to around $103 billion dollars which is less than half of what it was just 18 months ago putting it behind at least 15 of its competitors. In contrast, Nvidia has surged ahead, reaching a staggering 4 trillion dollar valuation.
