Amid an ongoing storm of hi-tech layoffs in Israel, computer industry giant Intel Israel has thrown its hat into the ring, laying off dozens of employees over the past few weeks.
Two months ago, the company announced its decision to start implementing cutbacks, with global centers reducing expenses and resorting to layoffs as a last resort. Earlier this year, Intel froze hiring in its desktop and laptop chip-making division as a method of reducing expenses.
“As a response to the market conditions and the macroeconomic changes, global Intel is acting to reduce expenses amounting to billions of dollars over the next three years, including by making the size of teams more efficient and limiting the recruitment of employees, which will result in a certain reduction of the workforce across the world, including in Israel,” Intel said in a press release.
Intel’s move is but a drop in the bucket of widespread layoffs plaguing the Israeli hi-tech industry.... Read More: JPost