Intel Corp. is slashing hundreds of jobs in Silicon Valley, adding to layoffs that began late last year as part of previously announced cost-cutting.
Intel
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is cutting 201 jobs at its offices in Santa Clara, Calif., which is home to the chipmaker’s headquarters, effective Jan. 31, according to filings with California’s Employment Development Department. That is up from the 90 positions the company reported last month, during which the company confirmed that it also has put some manufacturing employees on unpaid leave.
Intel is also adding to the 111 job cuts previously announced in Folsom, Calif., at a campus dedicated to research and development. There are now 176 layoffs effective Jan. 31, and an additional 167 job cuts effective March 15.
The company’s letters to the state indicate that some employees could stay employed if they find positions within Intel, but the letters also said additional cuts are expected.
Previously: Intel begins layoffs and offers unpaid leave to manufacturing workers
Company executives announced in October that they plan to cut $3 billion in costs in 2023. That was when Intel executives reported that third-quarter revenue fell and reduced their full-year outlook. Intel has never disclosed exactly how many positions will be eliminated. Intel had 121,000 employees around the world as of the end of 2021.
Intel spokeswoman Addy Burr said Thursday that the company continues to cut costs “while navigating a challenging macroeconomic environment.” She added that the company has “more than 13,000 employees in California and continue[s] to invest in areas core to our business, including our U.S.-based manufacturing operations, to ensure we are well-positioned for long-term growth.”
Tech companies have announced mass layoffs in the past few months, with giant Silicon Valley companies eliminating tens of thousands of positions. By one count, tech layoffs have totaled more than 25,000 worldwide so far this year. This week, Microsoft Corp.
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said it plans to cut 10,000 positions, less than 5% of its workforce.
See: ‘It was not sustainable or real’: Tech layoffs approach Great Recession levels