Intel to lay off over 500 employees in Oregon as part of massive restructuring: Report
Intel has not publicly confirmed the total number of job cuts, but a source familiar with the matter, Bloomberg reported, that as much as one-fifth of the company's workforce could ultimately be affected.
The cuts will affect operations at Intel's campuses in Aloha and Hillsboro starting July 15, according to a regulatory filing.
The move is part of a sweeping overhaul under newly appointed CEO Lip-Bu Tan, who took charge in April amid mounting pressure to reverse the chipmaker's decline and reclaim lost technological ground.
In a statement, the Santa Clara-based tech giant said the layoffs were necessary to streamline operations and improve competitiveness: '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.'
The company added: 'Removing organizational complexity and empowering our engineers will enable us to better serve the needs of our customers and strengthen our execution.'
Once a dominant force in semiconductor innovation, Intel has faced setbacks in recent years, losing its leadership in chip manufacturing to rivals such as TSMC and missing out on the explosion in demand for AI-focused computing hardware — a space now dominated by Nvidia Corp.
Tan has made it clear that bold changes are needed to reposition Intel in an era increasingly defined by AI, advanced foundry competition, and lean innovation cycles.
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