Intel (INTC, Financial) has announced plans to reduce over 500 positions in Oregon as part of a broader restructuring strategy. This initiative is expected to ultimately impact around 20% of its workforce. The layoffs are scheduled to commence at the Aloha and Hillsboro facilities, with approximately 529 employees facing permanent job cuts.
Previously, Intel had revealed the layoff of 107 employees at its headquarters in Santa Clara, California. Under the leadership of new CEO Pat Gelsinger, the company initiated a cost-cutting plan in April, which includes workforce reductions. Although the total number of layoffs has not been disclosed, sources indicate that the cuts will exceed one-fifth of Intel's total workforce.
The announcement of job cuts in Oregon led to a temporary 6.9% increase in Intel's stock price. Prior to this development, Intel's stock had risen nearly 10% since 2025, compared to an 11% increase in the Philadelphia Semiconductor Index over the same period.
