Posted on May 9, 2023
Intel layoffs announced after company sees largest quarterly loss ever
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https://www.usatoday.com/story/tech/2023/05/08/intel-layoff-2023-tech-layoffs/ [login to see] 7/
A wave of layoffs continues to rattle the tech industry, with semiconductor chip manufacturer Intel on Monday confirming that it plans to cut its workforce to reduce costs.
The company declined to share how many workers would be affected but said the layoffs would take place across the company.
“Intel is working to accelerate its strategy while navigating a challenging macro-economic environment,” the company said in an emailed statement. “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 last month reported its largest quarterly loss in company history amid a slump in personal computer sales. First-quarter net loss was $2.8 billion and revenue was down 36% year-over-year.
A wave of layoffs continues to rattle the tech industry, with semiconductor chip manufacturer Intel on Monday confirming that it plans to cut its workforce to reduce costs.
The company declined to share how many workers would be affected but said the layoffs would take place across the company.
“Intel is working to accelerate its strategy while navigating a challenging macro-economic environment,” the company said in an emailed statement. “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 last month reported its largest quarterly loss in company history amid a slump in personal computer sales. First-quarter net loss was $2.8 billion and revenue was down 36% year-over-year.
Intel layoffs announced after company sees largest quarterly loss ever
Posted from usatoday.com
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Posted 1 y ago
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And they are going to keep coming. You can hire 2 workers for the price you pay senior employees. It’s the bottom line plus the $$
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PO1 William "Chip" Nagel "The tech industry has been laying off employees like it's going out of style over the last few months, but Intel has been in a class of its own when it comes to poor performance. The company has seen revenue drop substantially over the last few years, with a record $2.8 billion loss in the first quarter of 2023."
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