Intel announces a new wave of layoffs
The technology industry is currently grappling with a wave of workforce reductions, with chip manufacturer Intel announcing a new round of layoffs. A recent online report has confirmed that Intel has indeed acknowledged its intentions to decrease its employee count.
As per a USA Today report, Intel has recently made the decision to terminate the employment of certain staff members as part of a new round of workforce reductions. The exact number of employees affected by the downsizing remains undisclosed, but it has been confirmed that the layoffs will impact various divisions and roles throughout the company.
"Intel is working to accelerate its strategy while navigating a challenging macro-economic environment. We continue 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," Intel stated, according to the USA Today report.
In the previous month, Intel reported a substantial quarterly deficit as a result of declining sales in the personal computer market. The company's financial statement revealed a net loss of $2.8 billion, with revenue experiencing a significant decline of 36%. Despite these financial setbacks, the technology powerhouse still paid out dividends totaling $1.5 billion.
Massive layoffs continue around the globe
Despite having around 20,000 staff members and consistent revenue growth throughout the last fiscal year, CEO Ryan Roslansky detailed in a letter to employees that the decision to downsize is aimed at optimizing the company's operations by eliminating roles within sales, operations, and support teams. By doing so, the company hopes to simplify its structure, enabling it to make quicker and more informed business decisions.Advertisement