Intel (NASDAQ:INTC) is reportedly going to be laying off employees in the near future.
- Reports claim that the layoffs will have the company getting rid of hundreds of jobs.
- Many of the cuts will be in Oregon, but will also spread to other areas of the world as well.
- Employees facing cuts will likely be in the software division of Intel.
- While the exact details aren’t known, INTC will likely announce the layoffs publicly after its earnings report on Thursday.
- Employees affected by the Intel layoffs 2020 are also heading online to reveal details about the rumored job cuts.
- According to some of these employees, the severance package is 9 weeks to find another job and an additional week for each year of service.
- The current layoff talk is coming from several different types of employees and many seem to be frustrated with the lack of managers in the Intel layoffs 2020.
Other recent Intel news includes a change for the company’s Board of Directors. Andy Bryant, Chairman of the Board, stepped down during an investor meeting on Jan 15. He elected Dr. Omar Ishrak to take over the position immediately.
The Intel Board of Directors also gained an additional independent director. Alyssa Henry is the newest independent director to sit on the Board as is the seventh to take up such a role since 2016.
INTC stock was up 3.15% as of Wednesday afternoon.
As of this writing, William White did not hold a position in any of the aforementioned securities.