Intel cuts hundreds of jobs in California and warns it will continue

Thank you CTOnews.com netizen Mr. Aviation for the clue delivery! CTOnews.com January 22 news, American chip giant Intel is laying off employees in California Silicon Valley, involving hundreds of jobs, the number of layoffs than the company previously announced.

Intel will lay off 201 employees at its Santa Clara, Calif., office beginning Jan. 31, according to documents filed with the California Employment Development Department. That's up from 90 jobs reported in December. Intel also increased the number of layoffs at its research and development campus in Folsom, California, with 167 jobs to be cut from March 15, on top of 111 jobs cut from January 31. Intel's filings show that some employees can continue to work if they find jobs within the company, while the number of layoffs is expected to increase.

CTOnews.com has learned that Intel executives announced in October that they plan to cut costs by $3 billion by 2023. By the end of 2021, Intel had 121,000 employees worldwide.