Intel Lays Off 311 In California Amid Ongoing Cost-Cutting Efforts

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Intel Lays Off 311 In California Amid Ongoing Cost-Cutting Efforts (www.crn.com)

The semiconductor giant discloses hundreds of more layoffs in California as it continues a multibillion-dollar cost-cutting effort started more than a year to weather what CEO Pat Gelsinger has called a ‘pronounced slowdown in demand.’

That doesn't bode well for the Ohio plant, that was only supposed to start if demand required it.

> The semiconductor giant discloses hundreds of more layoffs in California as it continues a multibillion-dollar cost-cutting effort started more than a year to weather what CEO Pat Gelsinger has called a ‘pronounced slowdown in demand.’ That doesn't bode well for the Ohio plant, that was only supposed to start if demand required it.

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[–] • 2 pts

The demand is not going down, especially if the ccp gets away with invading Taiwan and cuts the US off from TSMC. Nevertheless, the Ohio plant will be fine if only because they can pay Ohioans less than Californians.

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[–] • 0 pt

That's an if.

Right now, Intel has publicly stated they will only manufacture here if demand requires it - and demand does not require it right now.

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[–] • 1 pt

That's hard to believe when they're spending millions on building an entire plant that will end up being cheaper to run and more modern than existing ones.

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[–] • 1 pt

They're not spending any money on a plant. It's being built by a capital firm who will lease it back to Intel.

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