Intel staff in Ireland offered unpaid leave in cost-cutting drive - Business Post


The Intel Corporation logo is seen at a temporary office during the World Economic Forum 2022 (WEF) in the Alpine resort of Davos, Switzerland May 25, 2022. REUTERS/Arnd Wiegmann/File Photo

(Reuters) - Up to 2,000 staff at Intel Corp's Irish operation have been offered three months' unpaid leave as part of cost-cutting measures, the Business Post reported on Thursday.

According to the report, workers at Intel's manufacturing division have been offered the unpaid leave as part of a "voluntary time off" program which is being implemented by the company.

"Voluntary time off programs allow us an opportunity to reduce short term costs and offer employees attractive time off options," Intel told Reuters in an emailed statement, adding that manufacturing talent represents an important element of its business in Ireland.

Intel has nearly 5,000 employees across Ireland.

The move comes as the chipmaker in October cut its full-year profit and revenue forecast and warned it would lay off staff. Intel also said it would reduce costs amid the macroeconomic uncertainties.

(Reporting by Tiyashi Datta in Bengaluru; Editing by Maju Samuel)

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