AUSTIN, Texas — Intel is planning to lay off 251 employees in Travis County in November, according to a WARN Notice from the Texas Workforce Commission.
The layoffs come as the California-based tech giant trims its workforce after announcing in August it was cutting nearly 15,000 jobs globally, accounting for 15% of its workforce.
Intel provided a statement to KVUE regarding the impending layoffs:
“As part of the broad-based cost savings plan we announced in August, we are making the hard but necessary decisions to reduce the size of our workforce. These are the most difficult decisions we ever make, and we are treating people with care and respect. These changes support our strategy to become a leaner, simpler and more agile company as we position Intel for long-term sustainable growth.“
Earlier this year, the company had its worst day on Wall Street in decades, with its shares losing more than a quarter of their value. The company has since struggled to bounce back from those losses.
The layoffs will begin on Nov. 15.