Mass Layoffs at Intel Will Mean Less Revenue for Oregon, Even as the Semiconductor Industry Remains a Major Economic Driver
UNITED STATES, JUL 17 – Intel aims to save nearly $1.5 billion by cutting 5,000 mostly non-core US jobs amid falling market share and fierce competition in AI and chip production, CEO said.
- On July 11, Intel Corp. initiated over 5,000 layoffs across California, Oregon, Texas, and Arizona during its restructuring efforts.
- Amid rising competition, Intel cited recent layoffs and a plan to cut roughly 15,000 jobs last year, attributing the restructuring to declining market share and the need to reduce costs.
- According to WARN notices, Intel filed reveals nearly 2,000 layoffs at Folsom and Santa Clara, about 2,500 in Hillsboro and Aloha, with 31 engineers affected.
- In public statements, Intel said it will continue operations in Oregon, while a current employee told The Register that `everyone's looking over their shoulders.`
- Projections show analysts warn that without swift product wins, further austerity may follow, and Intel’s foundry division plans to eliminate 15-20% of its factory workforce globally.
19 Articles
19 Articles
Mass layoffs at Intel will mean less revenue for Oregon, even as the semiconductor industry remains a major economic driver
Timber was Oregon’s economic driver in 1974 when a computer chip company by the name of Intel started building facilities in Aloha and Hillsboro. Then, as the logging industry started fleeing the state in the 1980s and ‘90s, officials hoped technology companies like Intel would emerge as Oregon’s next financial driver. And it largely has. But mass layoffs at Intel’s Hillsboro campus this month are raising questions about the semiconductor indust…
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