The wave of cutbacks at Intel worldwide is coming to Israel today (Thursday), the company's employees from the various departments have started receiving notices of layoffs. At this stage it is not known what the scope of the layoffs is and how many workers will be laid off in Israel.
The chip giant employs approximately 12,000 people in Israel, and is considered the largest employer in Israeli high-tech.
As of the end of July this year, the company employs 113,700 people worldwide.
The announcements about the significant cuts on the Internet began to leak already two months ago, according to which the company is forced to reduce costs and deal with the decline in demand for personal computers.
Intel's last major wave of layoffs occurred in 2016, when it cut about 12,000 jobs, which is 11% of its workforce.
The company has since made smaller cuts and closed several divisions, including the cellular modem division and its drone units.
Like many companies in the technology industry, Intel also froze hiring earlier this year at the same time as declines in the markets and fears of a recession receded.
Intel Israel stated that "as it stated a few months ago and in response to market conditions and macroeconomic changes, Intel worldwide is working to save billions of dollars in costs over the next three years, among other things by streamlining the size of teams and limiting hiring, which results in a certain reduction in manpower around the world, including in Israel ".
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