FILE PHOTO: Intel is reportedly planning to layoff between 15% to 20% of its factory workers.
| Photo Credit: Reuters

Intel is reportedly planning to layoff between 15% to 20% of its factory workers, The Verge stated adding that most of these cuts would be implemented in July. 

The outlet cited a memo seen by a local news publisher where Intel manufacturing vice president Naga Chandrasekaran wrote that although these actions were very “difficult” they were essential to meet the “affordability challenges and current financial position of the company.” 

While Intel refused to comment on the layoffs, they said that people would be “treated with care and respect” during the process.

Intel Foundry has a broad range of jobs including technicians within factories to specialised researchers who develop advanced microprocessors.

Last year, the chipmaker fired 15,000 employees due to lower sales and a slow shift towards the AI market. 

In March this year, Intel appointed Lip-Bu Tan as the new CEO. Since then, Tan has emphasised on a total revamp that would mean streamlining company operations and reducing layers of management.