Beleaguered Intel has started layoffs in California as part of a cost-cutting and restructuring plan led by CEO Lip-Bu Tan. This follows Tan’s August announcement that job cuts were inevitable, targeting a 15% to 20% reduction in the company’s workforce.
Anton Shilov for Tom’s Hardware:
Officially, Intel is eliminating excessive management layers, but a CRN report indicates that the company is surprisingly laying off chip design engineers and architects. Additionally, the company is shutting down its automotive chip division, according to Oregon Live.
Among the job categories being eliminated are 22 physical design engineers, three physical design engineering managers, and several logic and product development engineers. The company is also removing roles such as cloud software architects and engineering managers, in addition to positions tied to business and project management, including a vice president of IT and multiple technology strategy leads. Employees in California are engaged in the development of CPU and GPU products…
The layoffs are scheduled to begin on July 15. Impacted employees have been given either a 60-day notice or a shorter four-week notice, paired with nine weeks of compensation and benefits.
MacDailyNews Take: As we wrote over twelve years ago:
[Intel’s decision to pass on Apple’s iPhone] has to be close to the top of the list of Biggest Business Mistakes in History.
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[Thanks to MacDailyNews Reader “Fred Mertz” for the heads up.]
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