intel layoff, warning to executives, it plans 343 layoffs at its folsom campus
Now again, Intel Corporation, an American multinational corporation, and technology company, has told state and local officials that it plans to lay off about 340 employees at its Folsom campus.
Folsom mayor and other officials, the state Employment Development Department got this notice of WARN Act. The WARN Act requires employers to big cutoffs workers and give information within 60 days to state officials.
Intel said during a talk with the media, Though these are difficult decisions The officials of Intel said that they are committed to their employees and committed with dignity and respect.
Intel said that the macro-economic environment is the reason behind this; the market’s condition is static and no growth is there. The company was trying to reduce costs and tried to gain through many initiatives. Intel is now with a plan to reduce the workforce across the unit to balance the market situation.
WARN ACT notice by Intel
This is not the first WARN Act notice by the company, which they already sent on December 2, 2022.
It plans to reduce and cut off around 111 employees at its 1900 Prairie City Drive facility starting 31st January. However, Intel said on January 11 that it has increased this number more 176. But they also said some employees will get extra roles in Intel. All the employees received a notice period of 60 days.
The notice gave 60 days notice period to employees who are going to be affected by this cutoff and separations scheduled to occur during 14 days commencing on 15th Mar 2023. Any further isolation is expected after 30 days beginning March 15, 2023.