An internal memo obtained by the Oregonian reveals plans to cut $300M from the research and administrative budget.
BY JACOB PALMER | DIGITAL NEWS EDITOR
Slowing sales are going to lead to companywide layoffs at Intel.
An internal memo obtained by the Oregonian reveals plans to cut $300M from the research and administrative budget.
“This means that we’ll prioritize investments, slow down hiring, and drive other efficiencies, including a performance-based involuntary separation package,” reads the memo, which was just distributed to Intel managers.
The memo doesn’t specify how many people will lose their jobs, but said the cuts will begin June 15 and conclude one month later. It indicates Intel has already identified employees who will lose their jobs, but hasn’t notified them: “We need to reduce overall spending for the second half of the year,” the memo reads. “Some of this will come from reductions in employment and some from other spending cuts. Employee reductions will vary by business group.”
(SOURCE: OregonLive.com)
Intel employs about 17,500 people in the Portland area and 106,000 worldwide.
