According to a report from the Globes, many of the company’s former employees in Israel have moved to NVIDIA, including veteran staff who worked at Intel for more than 10 years, as Intel undergoes significant layoffs.
The report notes that at least 30 employees left Intel in 2024 to join NVIDIA’s offices in Yokneam and Tel Aviv, according to the latest information on LinkedIn. This group includes core processor development engineers, hardware architecture experts, power management staff, and chip design software developers.
As stated in the report, NVIDIA is currently undergoing major expansion in Israel, hiring hundreds of employees from other companies and recent university graduates since the beginning of the year. .
The report estimates that NVIDIA has hired between 60 and 90 former Intel employees in recent months. Voluntary retirements and layoffs continue at Intel, and NVIDIA may hire 10 more people, bringing the total to about 100.
According to Levels.fyi, the report states that NVIDIA offers higher salaries and better compensation packages, averaging around 33% more than Intel. In particular, the biggest difference between Intel and NVIDIA is in the sharing options. According to Levels.fyi, the report notes that the annual value of a stock option package for a hardware engineer at Intel starts at NIS 19,300 (approximately USD 5,187) and at NIS 56,200 (approximately USD 15,105) at NVIDIA.
Intel announced in August that it would cut 15% of its workforce (an estimated 15,000 to 17,000 workers), but reports show that 7,500 employees have already taken voluntary redundancy; It is said that this includes 19 monthly salary payments.
Regarding Intel’s situation in Israel, the report notes that hundreds of employees at Intel’s development centers in Haifa, Petah Tikva, and Jerusalem were laid off this week, following thousands of employees being laid off in the United States. They are told that they will be fired.
The report highlighted that most of Intel’s job cuts in Israel are occurring at its development center, rather than its Kiryat Ghat production facility. This is due to the construction of the new Fab 38 factory, which will require more production staff once completed.
According to the report, most of the former Intel employees who joined NVIDIA this year have moved on in recent months, with a notable increase in turnover this month. As for other former Intel employees in Israel, many have gone on to join other major technology companies, including Apple, Amazon, and Intel subsidiary Mobileye. The report also notes that a small number of companies have moved to Microsoft, Google, and Huawei, a Chinese company with a development center in Haifa.
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(Photo courtesy of NVIDIA)
This article quotes the following information: globe.
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