LayOff Trend Continues: Chip Maker To Sack 15000 Employees!

The Layoff trend which had picked up after the Covid outbreak continues to see the companies sacking the workplace. Companies irrespective of the size across the globe are going for layoffs as part of cost cutting measures. Now a major firm joined the list and it would sack as many as 15000 employees.

Earlier we used to see Tech giants and other companies going for layoffs. Chipmakers also joined the row to sack the employees. Intel, which makes the equipment for the majority of the systems in the world, decided to sack the employees to make the workforce crisp.

As per the reports Intel wants to sack as many as 15000 employees which translates to 15 percent of its workforce. With this Intel intends to save as much as $10 billion this year. To tackle the losses it faced in the last quarter, Intel came up with a layoff decision.

In the memos that were sent to the employees, the management said that it could not see the required profits. Trends like AI are leaving a big impact. The Management said that its performance in the quarter was not encouraging and hence the tough decision had to be taken.

Moreover, Intel’s competitors Nvidia and AMD are also working on cost-cutting and making the workforce crisp. Now it's the turn of Intel to go for the layoffs to save a big amount. The concerned employees who would lose their jobs are said to have been informed already on the layoffs.