December 22, 2023 /SemiMedia/ -- Intel recently stated that it will continue to implement the multi-billion-dollar cost-cutting plan started last year and plans to lay off 311 employees at two campuses in California, USA.

Intel disclosed the plan in two notices to the California Employment Development Department, one involving about 76 employees at its Santa Clara headquarters and another involving about 235 employees in Folsom. The layoffs are expected to take effect at the end of 2023.

Previously, Intel announced a goal of cutting $10 billion in costs by 2025 through layoffs, reduced working hours and possible sales of divisions.

An Intel spokesman said Intel is working to accelerate its strategy while reducing costs through a number of initiatives, including cutting employees across the company in specific businesses and functions.