Intel has lately faced scrutiny owing to the recent move of the company to lay off workers in one of its production plans. Despite the reformed business strategy of Intel, the company has fired out 269 workers in its Folsom workplace.
ABC reports "Intel Corp. is planning to lay off more than 500 workers in Folsom and Santa Clara, according to the California Employment Development Department and it is part of a plan to slash 12,000 jobs worldwide, or 11 percent of its workforce. Also, the company says it will save them about $750 million."
The move has affected the employees in more ways than one. The announcement was made last week in an e-mail to employees from Intel CEO Brian Krzanich and the cost-cutting plan includes job cuts at their Folsom and Santa Clara locations.
Employees are expected to receive notice of layoff between April 25 and April 29, officials said and the termination date for those affected by the layoffs will be May 31, after which Intel will provide to each affected employee six additional weeks of pay and three months of Intel paid COBRA premiums, as noted by the same report.
This is not the first time that Intel has implemented massive firing of employees because Jobs & Hire already cited how the firm released 12,000 employees to counter the hurdles during the transition.
Besides laying off workers, Intel aims on transforming its business strategy and not just focus on chips but on a different segment that is forecast to propel the company to sustainability and stability.
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