Intel to cut dozens more positions in Folsom, amid widespread overhauls
Intel plans to cut dozens more jobs at its sprawling campus in Folsom, the latest in a yearslong series of downsizing moves there.
In August the company announced plans to cut costs by $10 billion in 2025, in part by trimming more than 15% of its global workforce by the end of 2025.
Analysts say the company has fallen behind competitors like AMD, and in recent months Intel has been transforming itself to make up lost ground. Former Chief Executive Pat Gelsinger retired in December, and for three months the company was led by two interim co-CEOs. Lip-Bu Tan, a former board member, was appointed chief executive in March, and in April told employees that the company faced urgent challenges and needed to remove “unnecessary bureaucracy.”
The company notified state officials last week that it planned to lay off 54 employees in Folsom over the course of two weeks, beginning July 11, according to a copy of the notice. The cuts mainly affect engineers and managers, according to a listing of affected positions.
The company said in a statement Tuesday that it will better serve its customers by “removing organizational complexity and empowering our engineers.”
“We are making these decisions based on careful consideration of what’s needed to position our business for the future, and we will treat people with care and respect as we complete this important work,” the statement said.
The company did not address questions about its efforts to sell the real estate of its Folsom campus. It had confirmed in November that it planned to sell the sprawling site and lease back a portion.
The company this month also filed layoff notices for 217 jobs in Santa Clara County, according to state records.
