After firing 15,000 employees, Intel brings back free coffee, tea to boost morale | Trending

Intel is planning to bring back free coffee and tea for its staff after several employee perks were slashed as part of cost-cutting efforts during this year. After its valuation declined, the company implemented cost-cutting strategies including firing a significant number of its employees. In August, Intel announced that 15,000 workers will be cut from the company either through voluntary separation agreements and layoffs. (File) In August, it announced that 15,000 workers will be cut from the company either through voluntary separation agreements and layoffs. In the same month, the company also sent across information about employee benefits that would be cut, including reimbursements for internet, phone, and travel costs. But three months later, the chip manufacturer has now declared that the free office beverages would be back to workplaces in a bid to improve morale. In an internal message, accessed the Oregonian, the company said that such perks added to employee comfort and were needed to boost their morale. “Although Intel still faces cost challenges, we understand that small comforts play a significant role in our daily routines. We know this is a small step, but we hope it is a meaningful one in supporting our workplace culture,” it read. However, the company is not yet ready to resume offering the complimentary fruits that employees had grown used to. (Also read: Why the CEO of world’s most valuable company doesn’t wear a watch: ‘You’ll be surprised’) The downfall of IntelWhile Intel was a major player in the tech industry for decades, several developments have impacted its growth as a tech leader. A common name as far as the personal computer boom of the 1990s is concerned, it was unable to capitalise on the growth of mobile chips in the 2000s, which allowed the iPhone and Apple to thrive. Former Intel CEO Paul Otellini had even admitted that in 2013 he regretted passing over a deal with Apple to design and manufacture chips for the iPhone. In another big misstep, the company refused to buy a stake in OpenAI, which has now emerged as a pioneer in the artificial intelligence race. OpenAI was keen on Intel’s investment so it could reduce its reliance on chips made Nvidia, which is now Intel’s biggest competitor in chip manufacturing. Then CEO Bob Swan didn’t think generative AI models would make it to market anytime soon and declined the deal.