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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[–] • 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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