Intel $INTC will lay off about 529 employees at its Aloha and Hillsboro sites in Oregon beginning July 15, according to a regulatory filing. Intel is Hillsboro's largest private employer.
The Oregon layoffs are part of the troubled chipmaker's wider restructuring plans under new leadership
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Intel $INTC will lay off about 529 employees at its Aloha and Hillsboro sites in Oregon beginning July 15, according to a regulatory filing. Intel is Hillsboro's largest private employer.
The announcement comes on the heels of similar reductions at the company’s Santa Clara headquarters in California, where 107 jobs were recently eliminated. It's part of a wider restructuring effort under Intel’s new CEO, Lip-Bu Tan, who took over in March. While the company has not officially confirmed the total number of jobs being cut, Bloomberg reported in April that the layoffs could affect over 20% of employees, according to a source familiar with the matter.
Investors have welcomed Tuesday's announcement: Intel shares rose by almost 7%. That builds on the chipmaker's 10% gains in 2025 already.
Tan wants to reduce headcount as part of a cost-cutting initiative, aimed at making the chipmaker “a leaner, faster and more efficient company,” according to a statement shared with Bloomberg, who first reported the news.
Tan is aiming to revitalize Intel after a period of declining performance. The company has fallen behind competitors in chip technology and failed to capitalize on the recent surge in demand for semiconductors to power the artificial intelligence revolution, an arms race in which Nvidia $NVDA has thus far dominated.
“We’re taking deliberate steps to reduce complexity and empower our engineering teams so we can better meet our customers’ needs and improve execution,” the company said in a statement. “These decisions are being made carefully, with the future in mind, and we are committed to handling the process with respect and consideration for those affected.”
The chipmaker’s struggles have even caught the eye of President Donald Trump, according to Bloomberg.
In February it reported that Taiwan Semiconductor Manufacturing Co (TSMC $TSM) is considering taking a controlling stake in Intel’s factories at the request of Trump. Trump’s team raised the idea of a deal between the two firms in recent meetings with officials from TSMC, and they were receptive, Bloomberg reported, citing a person familiar with the matter. Then, in April, Tan confirmed on a call with analysts that he'd met with TSMC's CEO to discuss how the two companies could collaborate.
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