Chip Manufacturing Giant Plans To Slash Its Work Heads!!! Crisis In Macro Economic Environment: Due to the slow movement of economic conditions, the companies are in crisis to improve their profits. Many companies are using layoff tools to do this. Recently, the largest chip manufacturing company, Intel has confirmed its layoff. It has planned to reduce its work heads to reduce the spending cost.
The company has not mentioned the specific amount of layoff, but according to the report, it would be around 20% of its employees in client computing and data center divisions. The company spokesperson states that the company is focusing on efficiency and cost reduction including some reductions in business and function-specific areas across the company.
The company also performs recession in employees perks by reducing 10% cuts in salary. Many employees are bracing themselves to face the job cuts. Last year October, Intel laid off nearly 500 employees in California. Layoffs are becoming casual in companies across the world due to the current economic conditions.