Mass layoffs in the tech industry in the US have slowed down somewhat in recent months. Now – after relatively calm summer months – Silicon Valley corporations seem to be back to layoffs. Intel has just announced its wave of job cuts.
Intel lays off 140 people in California
Fortunately, the world’s largest manufacturer of computer processors is planning to say goodbye to a relatively small number of employees. As previously announced, Intel will lay off a total of 140 people working in California.
The largest number, 89 people, will have to leave the office in Folsom, near Sacramento (California) – they report. Another 51 employees will be depleted from the office in San Jose in Silicon Valley. This decision is the result of cost-cutting efforts that Intel has been trying to implement in recent months. The dismissed employees are to remain in their positions only until the end of August.
This is the fifth wave of layoffs at Intel’s California offices since late last year. The company laid off 201 people in December, 111 in January, 343 in March and 62 in May. In March this year there were also reports that the company plans to sell its campus in San Jose, with an unofficially estimated value of almost USD 200 million.
Interestingly, despite the planned cost cuts, Intel is investing a lot. for which it will build a large semiconductor assembly and testing complex near Wrocław.
Big tech companies were slowing down
The layoffs in big tech corporations started at the end of last year and reached their peak at the beginning of this year. For example, in January alone Amazon got rid of 18,000. of employees, the owner of Google said goodbye to 12 thousand. people, and Microsoft had to part with 10,000. employees. Layoffs, although on a smaller scale, are also visible in smaller technology companies – for example in Yahoo, Twitter (now X), Dell, PayPal, Lyft, Disney and Dropbox.
This is primarily the effect of entering more difficult times, after a period of development during the pandemic that was favorable for the industry. Back then, Big Techs employed a lot, and today they are looking for ways to cut costs. In addition to cutting jobs, the giants of the tech world are trying to reduce other expenses. Suffice it to say that Google, which has been at the forefront of the absolute best employers in the world for years, decided in April to cancel some employee benefits, close some snack bars and replace business laptops with new ones less often.
We wrote more about this in the following article:
Source: Gazeta
Mabel is a talented author and journalist with a passion for all things technology. As an experienced writer for the 247 News Agency, she has established a reputation for her in-depth reporting and expert analysis on the latest developments in the tech industry.
