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Intel Corporation plans to sell its Folsom campus and lease back a portion of the space under new ownership. Part of a broader cost-cutting strategy, the decision follows significant layoffs and industry challenges over the past two years, reported the Folsom Times.

The 150-acre campus, located at Prairie City Road and Highway 50, has been a hub of Intel’s operations since 1984. Once home to approximately 10,000 employees, the site now houses fewer than 5,000 workers across its 1.6 million square feet of office space, laboratories and testing centers. The company also plans to consolidate space at its Santa Clara headquarters.