Intel has provided free reinstatement at its workplaces after a large number of job cuts. The benefit was eliminated last summer as part of the company’s $10 billion annual cost-cutting plan. This action is seen as a modest but important effort to boost employee morale in the wake of recent budget cuts. In a message shared with employees on its internal platform, the chip giant stressed the value of small comforts in everyday routines while acknowledging persistent cost issues at the company. The note reads, “Although Intel still faces cost challenges, we understand that small features play an important role in our daily routines. We know this is a small step, but we hope “This will be a meaningful step in supporting our workplace culture.” quoted by. However, free fruit, previously a popular employee benefit, will not be returning.
In August, Intel announced that 15,000 of its employees would be let go through layoffs or voluntary separation. Notices of cuts to employee benefits such as internet, phone and travel reimbursements were also distributed around the same time. In September, Intel CEO Patrick P. Gelsinger announced that the company would separate its chip-manufacturing and design activities in an effort to increase overall efficiency and reduce costs.
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Intel, once at the forefront of the technology sector, has faced several setbacks over the years, which have affected its market position. Although it contributed significantly to the PC boom of the 1990s, its focus on personal computers caused it to lag in the mobile chip market, while Apple was able to overtake it with the launch of the iPhone.
Former Intel CEO Paul Otellini admitted in 2013 that he regretted turning down Apple’s offer to produce chips for the iPhone because he believed the volume would not be commensurate with the expenses.
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Another lost opportunity occurred in 2017 and 2018, when Intel decided not to invest in OpenAI, now a leader in artificial intelligence.
Additionally, Intel has experienced production difficulties in the past, such as with its 7-nanometer chips in 2020, which has allowed rivals like Samsung and TSMC to make inroads. As its valuation dropped, Intel increased cost-cutting measures at the company.
