Intel Plans Extensive Job Cuts Across Locations

Intel Corp. is set to lay off over 300 employees in California, with 272 positions being eliminated at its Folsom facility and 47 at its San José location, beginning November 15. These layoffs are part of a broader cost-saving initiative announced in August, aiming to reduce the workforce by 15% or approximately 15,000 employees nationwide. The company is also implementing 385 layoffs at its Chandler, Arizona facility, contributing to significant workforce reductions across the country, including 1,300 workers in Oregon. Intel has stated that these difficult decisions support its strategy to become a leaner and more agile company amidst financial challenges and increased competition. Employees affected by the layoffs will receive advance notice and severance packages. The local economy and political landscape in Folsom, which relies heavily on Intel as a major employer, may also be impacted as the workforce shrinks.