Intel is laying off 235 employees in the US at the year-end

Intel plans to initiate its fifth round of layoffs on December 31, 2023, involving the termination of approximately 235 workers at its Folsom research and development site.

Starting on December 31, 2023, Santa Clara-based IT giant Intel Corporation will begin its fifth round of layoffs. According to the Hindustan Times, the corporation would lay off about 235 workers at its research and development site in Folsom, Sacramento County, over the course of two weeks.

The massive semiconductor manufacturer revealed the planned job cutbacks in an official statement to multiple news outlets. The statement emphasized Intel's endeavors to expedite its strategy and curtail costs across diverse business domains and operations.

According to a statement, Intel is implementing a number of initiatives aimed at cutting costs and expediting its strategy, including some business- and function-specific workplace reductions throughout the organization.

The announcement hinted at the possibility of additional layoffs at the IT behemoth in 2024.

At its Folsom site, Intel had cut 549 jobs earlier in the year, which accounted for almost 10% of the company's whole staff. The facility supports a variety of tasks, including R&D for chipsets, software, graphic processors, SSDs, and other products.

Additional reports indicated that as many as 20% of Intel's workforce may be laid off from its client computing and data center divisions.

Almost 13,000 people work for Intel in California, the state where its Santa Clara headquarters are located. This is almost 10% of the company's 131,900 global workforce.