Another 58 Layoffs For Folsom Campus. https://folsomtimes.com/intel-announces-another-58-layoffs-for-folsom-campus/
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There is an effort underway to adjust headcount downward to match the revised revenue outlook.
The PC and Datacenter markets remain very soft for Intel. Even AMD is feeling it.
So the groups are being given new targets and will be using some new method to rank and yank, as they say.
Expect this to be rightsized before the new CEO is announced. No sense in bringing on a new CEO with this issue still lingering, and the company wants to look as good as possible for the various asset sales to be done.
I left in October but still talk with my friends at the Folsom site. It is over in Folsom they say. It will be a hospital one day….kaiser, university of California Davis medical center, etc. Colliers who is the lead real estate group selling the place indicate that buyers want the whole site and are not interested in renting back to Intel.
It’s interesting that AMD, Qualcomm and Samsung have moved to the Folsom area over the last few years…..:maybe one of them want to put there sign over Intels?
There are a bunch of forgotten, great engineers in Folsom that those companies could poach easily.
Neverending CPM.
Folsom is still active?
Can't be giving high severance. I am guessing 2 to 4 weeks
@aa, sounds like ISP so why would they get a severance package? They had an opportunity previously and passed on it.
@a6, what makes you say that? Do you have inside information they're not receiving severance packages?
Yeah su-ks. Looks like last day is March 31st. I don't think any severance is included this time
They should all applaud the retirees and be thankful to them for their years of service
Its never over until the Intel signs come down from the buildings.