Read more Intel Corp. is laying off more than 250 employees in Austin, part of a broad cost-cutting move announced by the chipmaker over the summer in which it is eliminating about 15,000 jobs companywide.

Intel is laying off 251 employees in Austin starting next month, according to a WARN listing from the Texas Workforce Commission, amid global job cuts.

Intel has initiated the process of laying off its employees. As per the company, this is a part of the bigger cost-cutting strategy of the company. Intel announced that these layoffs are in compliance with the Worker Adjustment and Retraining Notification (WARN) Act,