Job Cut! Intel to lay off its employees soon to cut 'human costs' - Details Inside

New Delhi: Recession fear looms over the world. One by one companies around the world announcing to lay off its people. Major tech companies have already laid off their employees ranging from a few hundreds to thousands. According to reports, Intel has started lay off its workforce and have sent thousands of employees on upaid leaves for three months. Intel Process has started from California where it cut out at least 200 employees as “part of a broader cost-cutting effort.” According to the “Worker Adjustment and Restraining notifications”, 111 employees will be laid off at Intel’s Folsom, California location.

In October, Intel announced its plans to reduce "human costs" from the operations and sales departments by as much as $3 billion annually in the short term and $8 to $10 billion by the end of 2025.

Numerous employers, including Meta, Twitter, Salesforce, Netflix, Cisco, Roku, and others, have implemented widespread employee layoffs. At least 853 computer businesses worldwide have fired nearly 137,492 workers as a result of the global financial crisis, and the number is steadily rising amid concerns about a coming recession.