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  • Updated: May 11, 2023

Layoff Season: Intel's Recent Announcement Of Plans To Cut Costs

Layoff Season: Intel's Recent Announcement Of Plans To Cut C

Intel Oregon

Intel's recent announcement of plans to cut costs and reduce its workforce is a sign that the company is looking to streamline its operations and become more efficient.

This could be a result of increased competition in the market, or a need to reduce overhead costs in order to remain profitable.

By reducing its workforce, Intel is likely looking to cut costs and become more competitive in the market.

Intel, Oregon's largest corporate employer, has announced its plan to initiate a new round of layoffs.

The decision comes on the heels of a significant decline in revenue over the last six months, which the chipmaker attributes to a weak global economy. 

The move is expected to impact the company's workforce, and Intel has cited cost-cutting measures as a necessary step to mitigate its losses.

The announcement has generated concern among employees and industry experts, who are closely monitoring the situation as it unfolds.

Intel is preparing for new layoffs and budget cuts in client CPU and data centre groups Oregon's largest corporate employer, Intel, is set to lay off more employees due to a significant decline in revenue in the last six months.

The chipmaker attributes the drop to a weak global economy and has announced that cost-cutting measures are necessary. 

The upcoming layoffs are expected to impact Intel's client CPU and data centre groups.

This development has raised concerns among employees and industry analysts who are closely monitoring the situation. 

“We are focused on identifying cost reductions and efficiency gains through multiple initiatives, including some business and function-specific workforce reductions in areas across the company,” Intel said in a written statement.

“These are difficult decisions, and we are committed to treating impacted employees with dignity and respect,” Intel said. 

Intel is facing difficulties due to a significant drop in demand for the microprocessors it provides for PCs and data centres.

The company's sales have declined by 38% over the past six months, reflecting a weaker economy and reduced consumer and business spending.

This slowdown is attributed to the surge in computer purchases that occurred early in the pandemic, leading to a reduced need for new devices.

As a result, Intel is currently facing significant challenges in sustaining its business operations.

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Eben Duru
Eben Duru

 My name is Eben and I am from Lagos, Nigeria. I am currently a writer at AllNews Nigeria. I’m...

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