Internal Intel memo says job cuts are coming
Intel Corp. reportedly is quietly making plans to lay off employees across the company later this month in response to disappointing sales, according to a report in the Oregonian.
A confidential internal memo obtained by the Portland, Ore., newspaper indicates that Intel wants to trim expenses to stay in line with the company’s reduced revenue outlook for 2015.
"This means that we’ll prioritize investments, slow down hiring, and drive other efficiencies, including a performance-based involuntary separation package," the memo states, which was distributed only to Intel managers.
The memo doesn’t specify how many people will lose their jobs — or if company locations such as Intel’s campus in Folsom will be affected — but said the cuts will begin June 15 and conclude one month later. It indicates Intel has already identified employees who will lose their jobs, but hasn’t notified them.