Intel Israel achieves record exports amidst company's struggles with layoffs

Intel Israel has had record exports of $8.7 billion for the year 2022-2023, accounting for 1.75% of Israel’s GDP and 5.5% of its hi-tech exports, the company reported this week.

Despite facing several rounds of layoffs over the past year, Intel Israel has showcased its resilience and commitment to the Israeli market, it said.

According to Intel Israel’s Corporate Responsibility Report, the company also increased its purchases from Israeli businesses to $3.5b., an increase of 60% compared with the previous year’s $2.2b.

A key highlight of the report revolved around Intel Israel’s emphasis on inclusivity and diversity. The company has made significant strides in supporting businesses owned by women or minorities, with purchases from diverse suppliers totaling approximately NIS 1b. in 2022. This focus on diverse partnerships contributes to the overall growth and development of underrepresented segments of Israeli society, the report said.

Approximately 40% of Intel Israel’s employees actively participate in five employee resource groups (ERGs) – voluntary, employee-led organizations within a company that provide a supportive and inclusive community for employees who share common backgrounds, experiences or interests.

With three research and development centers in Haifa, Petah Tikva and Jerusalem, as well as an innovative manufacturing center in Kiryat Gat, Intel Israel has 11,700 employees. Moreover, its operations indirectly support an additional 42,000 jobs in the country, further solidifying its significance within the local job market, the report said.

As part of Intel Israel’s strategic initiative, IDM 2.0, it is constructing a new state-of-the-art chip manufacturing facility, Fab 38, in Kiryat Gat, with an investment of $10b. This project is expected to provide employment opportunities for nearly 7,000 construction workers and further solidify Intel Israel’s position as a major contributor to the local economy, the report said.

Intel says it has profound responsibility to contribute to society

Intel Israel corporate vice presidents and co-general managers Daniel Benatar and Karin Eibschitz-Segal said the company has a profound responsibility to contribute to the society it operates in.

“Intel’s commitment to economic, environmental and social issues is our key to success and is a common thread throughout all our business activity,” they said in a statement. “We will continue to develop semiconductors and additional technologies, while demonstrating our commitment to the highest ethical standards.”

Bella Abrahams, Intel’s public affairs director for Israel and Europe, highlighted the impact of Intel Israel’s corporate responsibility efforts on Israeli society and the economy.

“Israel’s 75th anniversary is focused on unity, diversity and equality, and we are proud to be a company that does everything in its power to instill a sense of belonging in all our employees, to nurture local businesses and provide employment to people from all walks of life in Israel,” she said.