Intel, the global semiconductor giant, is set to implement substantial layoffs within its chip manufacturing division as part of a broad cost-cutting initiative. The company plans to slash 15–20% of its workforce in this critical segment, a move aimed at enhancing operational efficiency.
The impending job reductions were communicated to factory workers via an email from Naga Chandrasekaran, the general manager of the Intel Foundry Technology and Manufacturing organization. This decision reflects Intel’s strategic shift as it endeavors to streamline its operations.
Chandrasekaran said: “These are difficult actions but essential to meet our affordability challenges and current financial position of the company. It drives pain to every individual”.
In the communication, it was conveyed that “Intel is taking steps to become a leaner, faster, and more efficient company.” This internal restructuring comes alongside a recent change in leadership at the top. Earlier this year, Lip-Bu Tan assumed the role of Intel’s new CEO, succeeding former chief executive Pat Gelsinger.
An Intel spokesperson said in a statement : “Removing organizational complexity and empowering our engineers will enable us to better serve the needs of our customers and strengthen our execution. We are making these decisions based on careful consideration of what’s needed to position our business for the future, and we will treat people with care and respect as we complete this important work”.
The job cuts underscore the intense competitive pressures and evolving market dynamics within the semiconductor industry, prompting major players like Intel to adapt their structures to remain agile and competitive.
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