Intel has recently notified its employees of a new round of layoffs, which is set to commence in mid-July 2024. The layoffs will primarily affect personnel at the company's Silicon Forest facility in Oregon, with the first round of layoffs expected to be completed by the end of July 2024. However, there is a possibility of a second wave of layoffs being implemented in the near future.
According to internal company communications, Intel is undergoing a significant restructuring effort, particularly within its Intel Foundry manufacturing business unit. The company is shifting its focus towards engineering and technical positions, with the aim of improving its financial situation.
While Intel has not disclosed the exact number of layoffs, internal sources indicate that this move is a necessary step to address the company's financial challenges.
Intel's decision to implement layoffs has sparked concerns among employees and industry experts, who are closely monitoring the situation. The company's ability to navigate this challenging period will be crucial in determining its future prospects.