Intel Corporation, a global semiconductor leader, is set to lay off 235 employees at its research and development facility in Folsom, Sacramento County, according to a regulatory filing. This marks Intel’s fifth round of job cuts in 2023, with the layoffs slated to commence on December 31 and extend over a two-week period.
In a statement provided to various media outlets, Intel, headquartered in Santa Clara, confirmed the layoffs and highlighted its efforts to accelerate strategic initiatives while simultaneously implementing cost-saving measures. The semiconductor major stated, “Intel is working to accelerate its strategy while reducing costs through multiple initiatives, including some business and function-specific workplace reductions across the company.” The release also hinted at the possibility of additional cuts at Intel in 2024.
The Folsom campus has been a focal point for job reductions, with 549 positions eliminated in previous rounds of layoffs this year, accounting for approximately 10% of the organization’s total workforce. The facility is integral to various research and development activities, encompassing the development of SSDs (solid-state drives), graphic processors, software, and chipsets.
Reports suggest that up to 20% of employees in Intel’s client computer and data center divisions may also face layoffs. In California, where Intel’s Santa Clara headquarters is located, over 13,000 individuals are employed by the chip maker, constituting nearly 10% of its global workforce, which stands at 131,900.
