The company has also faced manufacturing delays, and in August, announced it would cut 15,000 employees through voluntary separation agreements and layoffs. Other cutbacks included eliminating or reducing reimbursements for internet, phone, and commuting costs. The decision to stop providing free beverages and fruit at worksites was met with criticism from employees.
Key takeaways:
- Intel is reinstating free beverages for its employees at worksites, a perk that was previously cut as part of cost-cutting efforts.
- The company has faced a series of setbacks, including missed opportunities with AI and the growth of mobile chips, leading to a decline in its valuation.
- Intel announced in August that it would cut 15,000 employees and reduce employee benefits, including eliminating or reducing reimbursements for internet, phone, and commuting costs.
- Despite the return of free beverages, the company will not be restocking complimentary fruits that employees had previously enjoyed.