Intel is trying to cut costs with unpaid leave for Leixlip employees

Intel is trying to save on labor costs at its Leixlip plant by offering manufacturing workers three months of unpaid leave.

The company declined to say exactly how many of its 5,000 employees in Kildare would be affected.

However, it comes just weeks after the giant semiconductor company announced it must make significant global cuts to remain competitive.

Intel is positioning unpaid leave as a way to stave off more drastic layoffs.

“Voluntary time-off programs give us the opportunity to reduce short-term costs and provide employees with attractive time-off opportunities,” the company said in a statement tonight.

“Retaining our manufacturing talent is a key element in positioning Intel for long-term growth. Manufacturing talent is an important element of our business here in Ireland.”

Intel employs 5,000 people in Leixlip, many of whom work in chip manufacturing.

Last year the company said it would create 1,600 new jobs with a further €12 billion investment in its newest manufacturing facility in Kildare. It said the intention was to increase total employment in Ireland to 6,500, with the company’s chief global operations officer telling the Irish Independent that Intel will remain in Ireland for “decades to come”.

However, the company is struggling to keep up with its peers, with arch-competitor AMD recently overtaking Intel in market cap.

Intel also continues to suffer from missing out on the smartphone and tablet market, which make up a large part of the computer chip industry.

In the latest quarterly results, annual sales fell 20 percent while profit fell over 80 percent.

As a result, the company said ti would target $3 billion in savings over the next year and $10 billion by 2025.

https://www.independent.ie/business/intel-seeks-to-cut-costs-with-unpaid-leave-for-leixlip-staff-42189653.html Intel is trying to cut costs with unpaid leave for Leixlip employees

Fry Electronics Team

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