Intel Memo on Layoffs Reported
$300M savings sought amid PC declines
6/10/2015 02:22 PM EDT
SAN FRANCISCO — Intel may cut an untold number of research an administration positions, according to an internal memo obtained by The Oregonian/OregonLive. Following a reduced revenue outlook for 2015, the chip company could aim to cut its budget by $300 million.
The memo was distributed to Intel managers and stated that the company will “prioritize investments, slow down hiring, and drive other efficiencies, including a performance-based involuntary separation package.” Cuts will begin June 15 and conclude one month later for an unspecified number of people, the Oregonian reported. Intel has roughly 106,000 employees worldwide.
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