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Update: The article was updated to include response from Intel
An Intel (NASDAQ:INTC) spokesman confirmed that the company is letting go some of its employees at its campus in Folsom and offices in San Jose, California.
“As discussed on prior earnings calls, Intel is working to accelerate its strategy while reducing costs,” an Intel spokesperson told Seeking Alpha via email. “We are focused on identifying cost reductions and efficiency gains through multiple initiatives, including some business and function-specific workforce reductions in areas across the company.”
The spokesperson did not confirm the exact number of jobs cuts but BizJournals reported that the semiconductor company would let go 140 employees in total.
The cuts were reported to state employment officials last week and will take effect at the end of the month, the report added.
In May, the chip giant announced plans to cut its workforce to reduce costs, according to a USA Today report.
Several tech companies have undertaken job cuts in recent months. Google parent Alphabet (GOOG) (GOOGL) announced its plan in January to cut about 12,000 jobs, while Meta Platforms (META) said in March that it would lay off about 10,000 people and put the brakes on plans to fill 5,000 open positions.
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