Restructuring events
European Restructuring Monitor (ERM)
The restructuring events database contains factsheets with data on large-scale restructuring events reported in the principal national media and company websites in each EU Member State. This database was created in 2002.
Intel, the multinational semi-conductor and cloud software provider, has announced an internal restructuring plan which will cut at least 674 jobs from its global workforce. In Ireland at least 130 jobs will be cut, not including those who have participated in a three month voluntary leave scheme. In the USA, a minimum of 544 jobs will be lost in the California area. At this early stage it is anticipated that further announcements will indicate cuts in Ireland, USA and on a smaller scale, other parts of the company's global operations.
Intel's CEO stated in October that the company must cut costs due to a persistent drop in computer demand, with reduced investment in plants and lower operational costs.
A previous restructuring event has been recorded in the ERM Events database in 2021, with an expansion of 1600 jobs in Ireland (Intel-2021-IE).
Eurofound (2022), Intel, Internal restructuring in World, factsheet number 108216, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/108216.