Intel | Layoff Event

Layoff Details

Reason

Intel's layoff of 669 employees in Oregon is part of ongoing strategic efforts to become a 'leaner, faster, and more efficient company,' aimed at strengthening long-term success and supporting future growth. This round is a continuation of earlier cuts in 2025, bringing the total Oregon job losses for the year to over 3,000. The reductions are primarily driven by significant manufacturing setbacks, intense competition from rivals like Nvidia and AMD, and a broader cost-reduction initiative. Intel reported a nearly $19 billion loss in fiscal year 2024, highlighting financial pressures. The restructuring aligns with new CEO Lip-Bu Tan's strategy to reduce 'organizational complexity' and regain ground in the global chip race, particularly after falling behind in advanced process technology and missing out on the booming AI chip market. The company is also suspending its stock dividend to preserve capital for investment in technology and research and development.

Affected Locations

Washington CountyOregonHillsboroOregonAlohaOregonGordon Moore Park CampusJones Farm CampusRonler Acres CampusHawthorn Farm Campus

Affected Departments

Factory TechniciansManufacturing TechniciansModule Development EngineersEngineersProject ManagersResearch RolesHigh-tech Manufacturing TechniciansData ScientistsSoftware EngineersProduct DevelopersBack Office Staff

Stock Performance Around Layoff

Sources (8)