Dublin: Putting special emphasis on restructuring, Intel employees in Ireland are likely to face mandatory layoffs as the company’s voluntary severance program is reaching its culmination stage.
According to a report in the Irish news outlet Business Post, a memo has been given to the employees of the organisation which reads as follow, “Business units will review all employees who are eligible and apply in the [voluntary severance] tool and will make decisions about who will be accepted and who will not, based on business priorities.”
The report in the Post further stated that the company has not disclosed the exact number of positions that are set to cease, however, it has been estimated that it will impact around 730 employees in its Leixlip facility.
Intel Facing Its Most Difficult Time In History
Earlier on August 9, the Department of Enterprise was informed about Intel’s plans to cut more than 30 jobs over the course of a 30-days.
Intel has also come up with voluntary severance packages worth up to 500,000 euros for its Irish employees.
The packages include a base offer of five weeks’ pay for each year of service, with a maximum limit set at 104 weeks’ pay.
The company will officially communicate its decisions to the Irish employees on September 6.This comes amid Intel reporting a net loss of $1.61 billion last quarter and announced reduced capital spending amid declining shares.
More Than 700 Intel Employees In Ireland Face Threat of Losing Jobs, Details Here world-news World News | Latest International News | Global World News | World News Today
