Intel To Lay Off 235 Employees In 5th Round Of Job Cuts This Year
1 year ago

Intel To Lay Off 235 Employees In 5th Round Of Job Cuts This Year

ABP News  

Tech giant Intel has revealed intentions to lay off around 235 employees in its fifth round of workforce reductions this year, the media has repored. Santa Clara-based semiconductor giant Intel has plans to lay off 235 employees at its Folsom research and development facility, as per state regulatory filings, reported San Fransisco Chronicle. Taipei's financial analyst, Dan Nystedt, who compiled financial data from Intel, Nvidia, Samsung Semiconductor and TSMC spanning all quarters since Q1 2021, mentioned that Nvidia is at the top as the world's most profitable chip company, as first spotted by Sam Mobile in November. In the third quarter of this year, Nvidia recorded staggering figures, with revenue reaching $18.12 billion and profits soaring to $10.42 billion -- a remarkable 206 per cent year-over-year surge, largely attributed to the sale of AI chips for data centres.

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History of this topic

12 Major Layoffs In 2024: Tesla, Google, Dell, Cisco, Intel, Microsoft And More
3 weeks, 5 days ago

12 Major Layoffs In 2024: Tesla, Google, Dell, Cisco, Intel, Microsoft And More

ABP News  

Major Layoffs In 2024: Layoffs have been the talk of the town for the whole of 2024; big firms and small start-ups across the sector and worldwide have announced layoffs this year, leaving employees in a difficult situation. Siemens Layoffs German tech giant Siemens also said that it is considering cutting up to 5,000 jobs globally in its factory automation …

Layoffs Bloodbath In Big Tech Impacts 150,000 Jobs In 2024 As Industry Suffers: Report
1 month, 1 week ago

Layoffs Bloodbath In Big Tech Impacts 150,000 Jobs In 2024 As Industry Suffers: Report

ABP News  

The tech industry in 2024 has undergone a major wave of layoffs, with big players in the sector trimming their workforces to streamline their operations. About 150,000 employees have lost their jobs across major firms such as Tesla, Cisco, Microsoft, SAP, and Intel, a report by The Times of India revealed. Intel The tech giant announced that it will trim …

Tech Layoffs 2024 continue as Mozilla, X and Samsung announce fresh round of job cuts
2 months ago

Tech Layoffs 2024 continue as Mozilla, X and Samsung announce fresh round of job cuts

India Today  

As we near the close of 2024, the wave of layoffs in the tech industry shows no sign of slowing down. Following the mass job cuts announced in 2022 and 2023, tech companies have continued to announce additional layoffs throughout this year amid economic pressures, shifting strategies, and the impact of technological advancements like AI. According to Mozilla, the layoffs …

27,000 techies laid off across the globe in August, highest since January 2024
4 months ago

27,000 techies laid off across the globe in August, highest since January 2024

Deccan Chronicle  

Hyderabad: The layoffs in tech companies has witnessed a surge in August, since January 2024. On August 1, Intel CEO Pat Gelsinger announced plans to cut around 15,000 jobs, representing 15% of its workforce. German chipmaker Infineon announced on August 5 that it would cut 1,400 jobs globally, with an additional 1,400 positions being relocated to countries with lower labor …

Tech Industry Sees Layoffs Surge To 27,000 In August, Highest Since January; Here Are The Details
4 months ago

Tech Industry Sees Layoffs Surge To 27,000 In August, Highest Since January; Here Are The Details

ABP News  

The tech industry experienced a major increase in layoffs in August 2024, reaching its highest level of job cuts since January of this year. The surge in layoffs is primarily attributed to substantial reductions at prominent industry leaders like Intel and Cisco, which contributed significantly to the overall increase in job losses. Intel Layoffs Intel spearheaded the wave of layoffs …

Intel lays off 15,000 employees. CEO says ‘painful but more tough days ahead’
5 months, 1 week ago

Intel lays off 15,000 employees. CEO says ‘painful but more tough days ahead’

Hindustan Times  

Intel CEO Pat Gelsinger informed employees that the company is cutting jobs in order to save money and reduce costs. Intel will announce a enhanced retirement offering for eligible employees and offer an application program for voluntary departures next week. This is an incredibly hard day for Intel as we are making some of the most consequential changes in our …

Intel Layoffs: Chipmaker To Fire Over 15,000 Employees Amid Cost Cutting Measures
5 months, 1 week ago

Intel Layoffs: Chipmaker To Fire Over 15,000 Employees Amid Cost Cutting Measures

ABP News  

Intel Layoffs: The tech firm Intel will be laying off over 15,000 employees in an effort to overcome the losses the company has been experiencing. Additionally, it will reduce capital expenditures by over 20 per cent this year, restructure operations to eliminate non-essential activities, and review all ongoing projects and equipment to ensure spending remains in check. In the press …

Chipmaker Intel to cut 15,000 jobs as it tries to revive its business and compete with rivals
5 months, 1 week ago

Chipmaker Intel to cut 15,000 jobs as it tries to revive its business and compete with rivals

LA Times  

Intel, based in Santa Clara, Calif., is also suspending its stock dividend as part of a broader plan to cut costs. “Simply put, we must align our cost structure with our new operating model and fundamentally change the way we operate,” he wrote in the memo published on Intel’s website. “Intel’s announcement of a significant cost-cutting plan including layoffs may …

Chipmaker Intel to cut 15,000 jobs as tries to revive its business and compete with rivals
5 months, 1 week ago

Chipmaker Intel to cut 15,000 jobs as tries to revive its business and compete with rivals

Associated Press  

Chipmaker Intel says it is cutting 15% of its huge workforce — about 15,000 jobs — as it tries to turn its business around to compete with more successful rivals like Nvidia and AMD. “Intel’s announcement of a significant cost-cutting plan including layoffs may bolster its near-term financials, but this move alone is insufficient to redefine its position in the …

Intel Layoffs: Tech Firm Plans To Fire Thousands Of Employees, Says Report
5 months, 1 week ago

Intel Layoffs: Tech Firm Plans To Fire Thousands Of Employees, Says Report

ABP News  

Intel Layoffs: Intel reportedly plans to cut thousands of jobs as part of a cost-cutting strategy to support the critical initiative of recovering from recent earnings declines and market share losses. Intel’s Chief Executive Officer Pat Gelsinger is investing heavily in research and development to improve the firm’s technology and restore its leading position in the semiconductor industry. Under Gelsinger's …

Intel to lay off 235 employees over two weeks in the US
1 year ago

Intel to lay off 235 employees over two weeks in the US

Live Mint  

Santa Clara-based IT major Intel Corporation is set to undertake its fifth round of job cuts from December 31, 2023. The company will lay off around 235 employees at its research and development facility in Folsom, Sacramento County over two weeks, as per the Hindustan Times. “Intel is working to accelerate its strategy while reducing costs through multiple initiatives, including …

Staff at Meta, Etsy and more get bumper pay rises in 2022 despite cost of living crisis and layoffs
1 year, 6 months ago

Staff at Meta, Etsy and more get bumper pay rises in 2022 despite cost of living crisis and layoffs

Daily Mail  

A slew of tech companies have announced cost-cutting measures, with Amazon, Apple and Google-parent Alphabet all announcing hiring slowdowns or freezes. Twitter laid off half its workforce across teams ranging from communications and content curation to product and engineering Musk previously said there was no other choice but to impose mass layoffs as the company loses hundreds of millions of …

Tech Layoffs: Over 1 Lakh Employees Lose Job So Far In 2023 Alone; Company-Wise Layoff List
1 year, 10 months ago

Tech Layoffs: Over 1 Lakh Employees Lose Job So Far In 2023 Alone; Company-Wise Layoff List

News 18  

Tech Layoffs In 2023: Citing cost cutting due to macroeconomic pressures, tech companies across the world have resorted to layoffs in the past months. The year 2023 has witnessed mass layoffs by companies such as Google, Microsoft, Salesforce and Amazon, among others. Apart from these, Salesforce laid off 8,000 employees, Dell sacked 6,650, IBM about 3,900, SAP nearly 3,000, Zoom …

Microsoft profit drops 12% to $16.4B as revenue grows at its slowest pace in six years
1 year, 11 months ago

Microsoft profit drops 12% to $16.4B as revenue grows at its slowest pace in six years

Daily Mail  

A slew of tech companies have announced cost-cutting measures, with Amazon, Apple and Google-parent Alphabet all announcing hiring slowdowns or freezes. Twitter laid off half its workforce across teams ranging from communications and content curation to product and engineering Musk previously said there was no other choice but to impose mass layoffs as the company loses hundreds of millions of …

Tech job cuts - including mass layoffs at Meta and Twitter - are accelerating
2 years, 1 month ago

Tech job cuts - including mass layoffs at Meta and Twitter - are accelerating

Daily Mail  

A slew of tech companies have announced cost-cutting measures, with Amazon, Apple and Google-parent Alphabet all announcing hiring slowdowns or freezes. Twitter laid off half its workforce across teams ranging from communications and content curation to product and engineering Musk previously said there was no other choice but to impose mass layoffs as the company loses hundreds of millions of …

Tech companies fired over 32,000 employees in Silicon Valley in July, many enter period of hiring freeze
2 years, 5 months ago

Tech companies fired over 32,000 employees in Silicon Valley in July, many enter period of hiring freeze

India Today  

In the last three months, several companies have announced job cuts in a bid to control costs as there is growing fear of a recession storm that may hit soon because of Ukraine’s invasion and high inflation. Around 64 notable tech companies in the US announced job cuts in July and the total number of layoffs is more than 32,000. …

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