After the end of the autumn holidays, the Israeli branch of Intel will begin mass layoffs of workers as part of the financial recovery plan of the global corporation. In the US, more than 2,255 people have already received termination letters.
In August 2024, Intel said it intended to cut 15% of its workforce of 15,000-17,000 people. About half of them left the company voluntarily, receiving compensation in the amount of 19 monthly salaries.
The company’s Israeli operations, located in Haifa, Kiryat Gat, Petah Tikva and Jerusalem, employ about 11,000 people, Globes reported. It is expected that several hundred Israelis will be fired.