Computing giant Intel has announced it will implement a third round of layoffs since the start of 2022 to cut costs.
The California-based chipmaker is a major employer in Israel as well as elsewhere around the world, and this round of layoffs is expected to affect workers in the Jewish State as well.
Intel employs about 12,000 Israelis at its development centers in Haifa, Jerusalem and Petach Tikva. The company had about 131,900 workers worldwide at the end of 2022.
Among the projects already slashed by the company was a $200 million R&D center in Haifa.
Intel has declined to announce exactly how many employees it plans to let go, but according to multiple reports, thousands of workers will lose their jobs beginning in June, including in Israel.
“Intel is working to accelerate its strategy while navigating a challenging macro-economic environment,” the company said in a statement. “We are focused on identifying cost reductions and efficiency gains through multiple initiatives, including some business and function-specific workforce reductions in areas across the company.
“We continue to invest in areas core to our business, including our US-based manufacturing operations, to ensure we are well-positioned for long-term growth.”
SemiAnalysis chief analyst Dylan Patel was quoted by the Globes business news site as saying he believes Intel might lay off up to 20 percent of its workforce in the Datacenter and AI and Client Computing Groups.