Intel cuts over 500 jobs in Oregon as part of layoff plan
The Oregon job reduction will hit facilities in Aloha and Hillsboro starting on July 15, Intel said in a regulatory filing. The layoffs are expected to eliminate about 529 employees on a permanent basis. The latest disclosure follows an announcement in California, where 107 employees were let go at Intel's Santa Clara headquarters.
Under new Chief Executive Officer Lip-Bu Tan, Intel embarked on a plan in April to slash jobs and reduce operating expenses. The company hasn't given a total figure for the cuts, but a person familiar with the matter has put the amount at more than a fifth of staff.
The Oregon announcement helped lift the stock as much as 6.9% in New York trading. Intel shares had climbed nearly 10% in 2025 before Tuesday's move, compared with an 11% gain for the Philadelphia Stock Exchange Semiconductor Index.
Tan is trying to turn around the Silicon Valley pioneer after years of decline. The company lost its technological advantage to other manufacturers, and has missed out on the boom in artificial intelligence computing — a surge that greatly benefited Nvidia Corp.
In a statement, Intel said it was making the Oregon cuts to become 'a leaner, faster and more efficient company.'
'Removing organizational complexity and empowering our engineers will enable us to better serve the needs of our customers and strengthen our execution,' the company said. 'We are making these decisions based on careful consideration of what's needed to position our business for the future, and we will treat people with care and respect as we complete this important work.'
Hillsboro, a suburb of Portland, is home to some of Intel's biggest factories and research centers. The struggling chipmaker is the city's largest employer.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Time of India
a day ago
- Time of India
Bank of America just gave AMD a massive upgrade — here's why the stock could soar 35%
Why did Bank of America hike AMD's stock price target to $175? Live Events Taking market share from Intel in server CPUs from Intel in server CPUs Recovering embedded chip sales Launching its next-gen MI400 GPU systems in 2026 How does this compare to other analyst predictions? TipRanks shows a 'Moderate Buy' consensus with average targets near $150 shows a 'Moderate Buy' consensus with average targets near $150 MarketWatch reports several firms now eyeing AMD's potential in AI acceleration as a major long-term growth driver reports several firms now eyeing AMD's potential in AI acceleration as a major long-term growth driver Some bulls see $215 as a realistic stretch goal, which would represent a 35%+ jump from here What's the current stock trend for AMD? Broke out of a key resistance zone in early July in early July 50-day moving average crossed above the 200-day (a bullish 'golden cross') (a bullish 'golden cross') Momentum remains strong , though RSI suggests the stock is approaching overbought territory , though RSI suggests the stock is approaching overbought territory Support levels : $148 and $123 : $148 and $123 Next major resistance: $187 and potentially $215 How are AMD's data center and AI chip sales performing? What role does China's AI market play in AMD's growth? Who's already adopting AMD's AI hardware? Can AMD maintain its momentum in the face of global headwinds? FAQs: (You can now subscribe to our (You can now subscribe to our Economic Times WhatsApp channel Advanced Micro Devices (AMD) is back in the spotlight—and this time, it's not just about its cutting-edge chips. Bank of America's boldest price target yet for AMD stock signals growing confidence in the company's future, especially after major policy changes unlocked massive revenue potential in AI ambitions are clearly paying off. With strong momentum in data centers and the green light to re-enter the Chinese market, analysts are now calling AMD a serious contender against Nvidia. Here's a full breakdown of what's driving this bold Wall Street July 16, Bank of America analyst Vivek Arya raised his AMD stock price target from $130 to $175, a 35% jump. This is the most aggressive call made on AMD this year by a major Wall Street call wasn't just based on AMD's strong fundamentals. It came after a crucial policy shift by the U.S. government, which now allows AMD and rival Nvidia to resume shipments of advanced AI accelerators to Chinese data centers. This unlocks a revenue stream that had been frozen under previous export of America estimates this could add $500 million to $1 billion in revenue for AMD over the next two quarters alone—making the raised target more than just optimism. It's a calculated bet on a major growth analysts expect AMD to generate $400–600 million per quarter in revenue from its data-center GPUs during the second half of 2025. That could add an extra $1 billion to this year's total sales and up to $2 billion in 2026. And unlike some other chipmakers, AMD's MI300X GPUs are fetching premium prices — in the $20,000 to $25,000 range — giving a nice lift to profit GPUs, AMD is gaining ground in other key areas too:Altogether, Bank of America thinks AMD is 'firing on all cylinders' — and that's why they're betting big on its $175 target isn't even the most aggressive on Wall Street. HSBC recently upgraded AMD to a 'Buy' with a $200 price target — implying roughly 30%–35% upside from current levels. That call was based on AMD's ability to price its chips above expectations and the early traction of its new MI350 analysts remain optimistic too:AMD has had a strong run in 2025. The stock is up about, trading near— one of its highest levels since late a quick technical snapshot:The technicals are confirming what the fundamentals are saying: AMD is in an uptrend, and buyers are firmly in started the year behind Nvidia in the AI chip race, but it's now catching up—fast. In Q1 2025, AMD's data center revenue surged 57% year-over-year to $3.7 billion, now making up almost half of its total real stars of the show? AMD's EPYC CPUs and Instinct MI300 series GPUs, which are now widely used in large-scale AI applications. The MI300 chips have earned positive reviews not just for performance, but for delivering better value per dollar compared to Nvidia's alternatives, according to some push further, AMD recently unveiled its MI350 Series and a new rack-level AI platform called Helios. AMD says MI350 offers 40% more AI performance per dollar than the previous model—a big step in a market where cost-efficiency is one of the largest buyers of AI chips in the world. According to reports, Chinese cloud companies spend nearly 20% of all global AI training budgets. Losing access to that market in recent years was a significant setback for that the U.S. has eased restrictions, AMD can start selling again to top Chinese customers—potentially opening up multi-quarter sales growth in Asia. With the MI300 series and upcoming MI400 GPUs, AMD is now well-positioned to serve that high-demand market, competing not just with Nvidia but also Chinese tech giants like access to China could become one of the biggest revenue growth drivers in AMD's upcoming big names are already integrating AMD's chips into their (formerly Facebook) has started using AMD's MI300 GPUs to power its internal AI models. It's also planning to test the newer MI350 series AI cloud startup TensorWave has built the largest AMD GPU deployment in North America—an 8,192-chip system delivering 21 exaFLOPS of key advantage? AMD's commitment to open-source tools like ROCm, which appeals to cloud providers and developers looking for flexible AI development environments. This strategy helps AMD win over a part of the market that may feel locked into proprietary ecosystems from the strong growth signals, AMD isn't in the clear just yet. The company still faces challenges in global supply chains, geopolitical uncertainties, and fierce competition from Nvidia, Intel, and Chinese semiconductor if AMD successfully executes its next-gen product rollout and capitalizes on its reopened sales pipeline in China, it could be heading toward a long-term growth of America's $45-per-share price hike is a strong vote of confidence, suggesting AMD's value may still be underestimated by the market. Whether that call pays off depends on how well AMD can scale its AI hardware business in the quarters transformation from a perceived underdog to a rising force in AI infrastructure is happening faster than many expected. With strong product traction, reentry into the Chinese market, and Wall Street backing, AMD's story in 2025 is shaping up to be one of the most important in the tech are now watching closely to see if AMD can deliver on these high expectations—and whether its chips can help lead the next wave of global AI innovation.A: Because of strong AI chip growth and the return of China exports.A: By launching MI300 and MI350 chips and gaining big tech support.
India.com
2 days ago
- India.com
Bad news for employees of this company as it plans to cut over 5,000 jobs; not Ratan Tata's TCS, Narayana Murthy's Infosys, Microsoft or Google, Wipro, it is…
Intel, one of the world's largest chipmaking companies, plans to lay off more than 5,000 employees in the United States as part of an ongoing restructuring initiative aimed at reviving its struggling business. According to Manufacturing Dive, which cited updated Worker Adjustment and Retraining Notification (WARN) filings, the layoffs will primarily affect employees in California, Oregon, Arizona, and Texas. Based on the California WARN filings, the job cuts in Santa Clara and Folsom have nearly doubled, totalling 1,935 employees. Layoffs began on July 11 in Folsom and July 15 in Santa Clara.
Time of India
2 days ago
- Time of India
41st anniversary of The Times of India, Bengaluru: City of quiet power
As India charges ahead into a future that will be driven by technology, innovation, and self-reliance in defence, Bengaluru stands firmly at the centre of this transformation. When TOI first came to the city in 1984, Bengaluru was often seen as the charming 'Garden City' or a quiet 'Pensioners' Paradise'. Tired of too many ads? go ad free now But today, it's so much more — a dynamic powerhouse that plays a crucial role in shaping India's economy, strengthening its security, advancing its space ambitions, and boosting its global presence. From the blueprints of cuttingedge fighter jets to the algorithms that could shape the next wave of artificial intelligence (AI), from satellite launches that beam signals across continents to policy think tanks that help steer the nation's democratic machinery — Bengalu-ru's fingerprints are everywhere. And TOI has been around to mark each of these milestones, sometimes documenting and celebrating multiple transformations simultaneously. For decades, Bengaluru has been India's go-to city for software services, drawing global giants like IBM, Intel, Microsoft, and Google to establish sprawling campuses in its ever-expanding tech corridors, but the city's real strategic heft lies not merely in IT services, but in its growing role in shaping sovereign technologies. This distinction has become even more pronounced in the post-pandemic, post-Galwan world, where India has recalibrated its internal strengths in light of external vulnerabilities. Technology is no longer a soft sector. It is national infrastructure, and Bengaluru is a key place where this infrastructure is imagined, tested and deployed. Indeed, the sheer density of defence and dual-use technology institutions in Bengaluru is staggering. Tired of too many ads? go ad free now For instance, HAL manufactures fighter jets and helicopters that power India's air defences, and is actively getting into rocket building. Bharat Electronics Limited (BEL) produces advanced radars, electronic warfare systems and communication networks for the Army, Navy and Air Force. The Aeronautical Development Agency (ADA) is developing the Tejas Mk-2 and AMCA, India's nextgeneration fighters, while the Centre for Artificial Intelligence and Robotics (CAIR) delves into autonomy and machine learning for battlefield applications. During Operation Sindoor, India's retaliatory airstrikes along the western front, a Bengaluru-built loitering munition made headlines. Alpha Design Technologies' SkyStriker, developed in collaboration with Israel's Elbit Systems, was deployed for precision strikes. This convergence of state-backed R&D and industrial production makes Bengaluru one of the rare cities globally where design, testing and manufacturing can all happen within a 40-km radius — a logistical and intellectual advantage not lost on policymakers. SPACE CITY Perhaps no other city in India has come to symbolise the country's space ambitions more than Bengaluru. The headquarters of the Indian Space Research Organisation (Isro) sits quietly in the city, but the ripples it creates are anything but quiet. It was from Bengaluru that mission control oversaw Chandrayaan, , and the Chandrayaan-3 landing that etched India's name on lunar history. Bengaluru is also home to the UR Rao Satellite Centre, Isro Telemetry Tracking and Command Network (Istrac), and the Human Spaceflight Centre — key pillars of India's space ecosystem. As India prepares for Gaganyaan, its first crewed space mission, and looks towards building a space station by 2035, Bengaluru's relevance only deepens. The growing space start-up ecosystem, too, has found fertile ground here. Among them, Digantara, a homegrown start-up, is building India's first private space situational awareness (SSA) infrastructure. With its space-based sensors and debrismapping technology, There are other firms like Pixxel and GalaxEye that are working on Earth Observation satellites. Bellatrix Aerospace, with inspace propulsion systems, further cements the city's image as India's new space crucible. In an era when space is rapidly militarising, Bengaluru's role takes on a strategic weight. The Defence Space Agency (DSA), headquartered in the city, is responsible for integrating space assets across the armed forces — a nod to how deeply embedded Bengaluru is in India's strategic command structure. QUANTUM, CYBER & AI As cyberwarfare emerges as the fifth domain of war, Bengaluru has become India's cyber nerve centre — home to defence cyber units, intelligence-linked AI projects, and a robust private ecosystem. It hosts the southern operations of the Indian Computer Emergency Response Team and regularly sees joint cyber exercises involving the armed forces. India's push towards a cyber command and digitised battlefield operations draws power from Bengaluru's strengths in software and electronics. Start-ups like Tonbo Imaging lead in tactical vision systems, while Awiros and QNu Labs are building secure AI and quantumresilient encryption frameworks. On the quantum frontier, the Raman Research Institute is pioneering quantum communication protocols, while Isro is exploring satellite-based quantum key distribution — both crucial for next-gen, secure networks. This research is vital as quantum computing begins to challenge traditional encryption. AI research hubs like IISc and Artpark add momentum, turning data sovereignty and cyber resilience into on-the-ground innovation. The civilian-military tech divide is fading fast with AI being used in signal intelligence, and battlefield tech — born in civilian labs. Bengaluru doesn't just understand this shift — it attempts to drive it. Few cities fuse academic depth, start-up energy, and strategic defence imperatives quite like this one. URBAN CHAOS Yet, for all its promise, Bengaluru's strategic future is not without risk. The city's infrastructure is crumbling under its own success. Traffic bottlenecks, flooding, unreliable power supply, and chronic water shortages plague daily life, threatening to erode the confidence of investors and institutions alike. The risk isn't just economic — it's strategic. Defence systems depend on uninterrupted power and secure data flows. Space missions demand clockwork logistics. If Bengaluru chokes, the arteries of national ambition may feel the squeeze. The govt has begun to respond. New road projects, suburban rail, and data centre corridors are in the pipeline. The state is also trying to decentralise growth to regions like Devanahalli and Tumakuru, hoping to ease pressure on the core. However, much will depend on how imaginatively the city is governed. As a key node in India's national security and technological grid, Bengaluru's stability is not just a local concern. QUIET POWER Unlike Delhi, Bengaluru wields no political power on the national stage. Unlike Mumbai, it is not the financial capital. Yet, in the 21st century, where algorithms, aerospace, and autonomy define statecraft, Bengaluru may well be India's most strategically consequential city. This is where engineers draft the contours of air dominance. Where scientists whisper to satellites. Where coders encrypt secrets. And where the battles of the future — silent, digital, orbital — are already being waged. Strategists in the South Block know this too. So do adversaries, watching from afar. The world may see this as a city of cafés, flyovers, and start-ups, but behind the glass facades and traffic snarls, Bengaluru hums with quiet power — a city that doesn't shout its importance, but ensures it is felt across the firmament.
