Intel particulars downsizing program – Globes

So as to keep away from mass layoffs, the semiconductor big is providing unpaid go away and voluntary retirement choices.

Semiconductor big Intel has not but begun the spherical of layoffs that it plans to hold out over the following few years, however maybe with the intention to keep away from unilateral and excessive measures, it hopes to permit as many workers as attainable who want to take action to take a brief interval of unpaid go away, lasting just a few weeks, or to take voluntary retirement in return for severance pay and pensions.

Sources inform “Globes” that the corporate’s 14,000 workers in Israel, like their colleagues all over the world, have been provided three choices: a voluntary retirement package deal; unpaid go away for just a few weeks; or an extended interval of go away on diminished pay. Manufacturing employees haven’t been provided the unpaid go away choice due to the necessity to preserve steady manufacturing within the coming interval.

In October, Intel introduced a reasonably obscure program of expenditure cuts. The corporate stated that it could trim $3 billion from its 2023 funds, rising to $8-10 billion in 2025, which means that Intel goals to save lots of over $20 billion over three years.

Printed by Globes, Israel enterprise information – – on December 15, 2022.

© Copyright of Globes Writer Itonut (1983) Ltd., 2022.

Intel Petah Tikva  credit: Intel

Intel Petah Tikva credit score: Intel

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