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Tech layoffs widen: Intel chops hundreds of Northern California jobs If we look back at previous reports about Intel layoffs, theres a bit more thats worth keeping track of. INTC, Intel Filed WARN Notice in CA for 833 Layoffs, Work from office may solve performance issues, A good read for the peasants as more famine is coming, Intel releases software platform for quantum computing developers, Pat keeps saying Intel's AI performance is 10X the competition, Where is the extra cost saving coming from, https://www.businesspost.ie/news/intels-global-ceo-to-visit-ireland-for-meeting-with-leixlip-staff-over-challenging-times/. Q.ai takes the guesswork out of investing. Log in to our website to save your bookmarks. The cloud-focused data center group, meanwhile, despite a seven percent sequential quarterly revenue dip, experienced a nine percent gain over Q1 of 2015. Nov 29, 2022 Listen to this article 4 min Chip giant Intel Corp has started the layoffs CEO Pat Gelsinger has been alluding to for weeks. So far, Intel has primarily produced semiconductors that it has created. The cost-cutting includes layoffs, although the number of jobs that will be eliminated is not publicly known. More layoffs are all but In a statement distributed to staff on October 11, Intel CEO Pat Gelsinger outlined intentions for building an internal foundry model for the company's product lines and external clients. Burr would not comment on what kinds of positions were affected. Intel to possibly cut workforce later this month. The job cuts at Intel have the companys stock up slightly today as investors view the cost-cutting move as a positive development. Prays to the lord, his only master. What remains to be seen is whether Intel's layoffs will affect any of the company's ongoing projects, such as development of discrete graphics processors for PCs that are hardly competitive against higher-end GPUs by AMD and Nvidia. 2023 InvestorPlace Media, LLC. Resignation letter is drafted, new job starting. Also Read: Show me the salary: Why youngsters are posting their salaries online. On a scale of 1-10 how much damage did RK do? COMP, / Sign up for Verge Deals to get deals on products we've tested sent to your inbox daily. That means the company effectively doubled its . Investors will need to listen closely to Intels official announcement to decide whether this presents a good opportunity to invest. 420 Intel is the leading source for cannabis news from around the world. Last fall, Intel announced thousands of job cuts in an effort to cut costs and cope with slowing sales of personal computers that use its semiconductors and microchips. Also Read: What is burn-out, which Meesho plans to fight with 11-day break for employees? The cuts come as employees are bracing for layoffs across the company . Updated: 12 Oct 2022, 07:22 PM IST Sounak Mukhopadhyay Intel cut its year sales and profit goals. What happen to all the $BTC Intel bought in 2017? Intel reportedly planning major layoffs, likely affecting thousands of According to Bloomberg Intelligence analyst Mandeep Singh, Intel may need to explore a dividend reduction to counteract declining demand and stagnant PC prices.