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Intel Cuts Over 500 Jobs in Oregon as Part of Layoff Plan [Yahoo! Finance Canada]
Last nvidia corporation earnings: 2/13 04:20 pm
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layoff plan that's ultimately expected to affect roughly 20% of the chipmaker's staff. Most Read from Bloomberg 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 Va
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