Intel Corp. job cuts in California are going deeper at its Folsom campus and Santa Clara headquarters.
Folsom’s Intel (Nasdaq: INTC) campus will see 176 employees lose their jobs, effective Jan. 31, according to a new notice filed with the California Employment Development Department. Another notice calls for 167 more employees to be let go, effective March 15.
Late last year, the chipmaker said it would cut about 201 jobs in California, with 90 of those at its headquarters offices in Santa Clara and 111 in Folsom.
The new filings call for 201 layoffs in Santa Clara alone, along with the total of 343 in Folsom.
Intel and other technology companies are cutting jobs as they respond to lower demand for their products.
Microsoft Corp. (Nasdaq: MSFT) this week disclosed 10,000 planned job cuts, and Google parent Alphabet Inc. (Nasdaq: GOOG) said it's cutting 12,000, its largest-ever workforce reduction.
Intel has 5,300 employees in Folsom, making it the Sacramento area's largest technology company.
Intel's Folsom site is a research and development campus that has sales, administration and other divisions.
Locally, about 800 former Intel employees are now part of solid-state memory chip company Solidigm, a new company formed in 2021 when South Korean memory chip maker SK hynix Inc. bought Intel's flash memory business.
In a series of letters to the EDD sent on Jan. 11 and Jan 13 that offered the updated numbers, Marc Nadler, director of Intel's corporate people movement team, didn't explain why they had increased the number of layoffs.
Intel spokeswoman Addy Burr declined to comment on why Intel had ramped up the number of jobs it's cutting in California.
"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," Burr said in an emailed statement. "These are difficult decisions and we are committed to treating impacted employees with dignity and respect."
At the end of last year Intel executives said the company will cut $8 billion to $10 billion in structural costs by the end of 2025. A Bloomberg report in October said job reductions could number in the thousands, with some divisions seeing 20% reductions.
"We are focused on driving $3 billion of cost reductions in 2023, one-third of this in cost of sales and two-thirds in operating expenses," Intel said in a statement in November.
An earlier version of this story misstated Intel's number of Folsom employees.
