Bloomberg reported rumors last week about an imminent cut in Intel’s staff. It explained that as many as 20% of Intel’s employees could be losing their jobs. Oregon Live has now taken the initiative, citing anonymous Intel representatives saying that the CEO had already reached out and informed employees about the plans to reduce staff. The cuts will be made public on November 1.
This date doesn’t coincide with the publication time of the company’s quarterly report. But this can be explained because Intel management is reluctant to add to the already unenviable stock market position by publishing negative information. It was previously believed that Intel would announce the imminent reduction in staff at the same time as the publication of its quarterly report next week. The management of Intel cannot avoid being asked about the optimization of the staffing at the quarterly reporting event, despite the publicity.
According to the source, Intel Patrick Gelsinger (Patrick Gelsinger), the head of Intel has already recorded a message to employees. This message anticipated the November announcement regarding the reduction in staff. “Decisions like this are always hard, but our costs are too high and profits are too low. Something needs to be done about it.” — quotes Gelsinger edition of Oregon Live. The company now has over 120 000 employees in 53 countries. If the reductions are made to the intended scale, several thousand, if possible tens of thousands, of employees may lose their jobs.