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High-tech slowdown: Intel freezes recruitment Israel today

2022-06-09T15:00:02.530Z


As part of the cost-cutting measures, the company's chip division will conduct a reassessment • "The economic reality has changed," the company says


Global Intel freezes recruitment in the chip division of PCs and laptops, as part of cost-cutting measures, the Reuters news agency reported this morning.

According to the agency, some recruitments may resume within two weeks after the division "conducts a reassessment of priorities and all current job offers in its systems are honored."

Intel shares have lost nearly a quarter since the beginning of the year - a decline similar to that recorded in the NASDAQ index.

Intel employs more than 12,000 people in Israel, so Intel's global decision could have dramatic consequences for Israel as well.

"In Israel, there is no stopping or freezing of recruitment, but only a slowdown for the purpose of examining the recruitment in the face of business needs," Intel Israel said in response to Israel Today's request.

It added that "the economic reality has changed, but keep in mind that technology is still the most important thing that is currently driving humanity, certainly in the face of the accelerated digitization that is happening around the world."

"The new macroeconomic reality obliges us to prepare"

"There is a huge demand for chips - the golden age of the semiconductor industry. Together with the new strategy we have outlined, we believe that Intel, together with the chip industry, are at the beginning of growth. 2022 marks a record year for investment, with only the first 5 months of the year We recruited 23,000 new employees worldwide and completed the recruitment of over 1,000 employees in Israel.

"At the same time, we announced huge investments in the establishment of $ 38 billion in manufacturing plants in Europe and the United States.

The new macroeconomic reality, however, requires us to prepare and examine how future expenditures will help us implement the new strategy plan.

In the next 90 days, we will concentrate on absorbing the 23,000 new employees, along with a slowdown in the rate of recruitment in the face of business needs, "the company said.

It should be noted that Intel has ambitious growth plans in Israel that include the construction of an Intel plant in Kiryat Gat at a cost of $ 10 billion, the establishment of a hardware campus for 6,000 engineers in Haifa and the establishment of a new development activity in Be'er Sheva.

The company notes that the plans in Israel have remained unchanged.

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Source: israelhayom

All news articles on 2022-06-09

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