Intel to lay off over 500 employees as part of major restructuring

Intel is cutting more than 500 jobs in Oregon as part of a larger plan to restructure its business and cut costs. According to a Bloomberg report, the company will begin laying off 529 employees at its Aloha and Hillsboro locations starting July 15.

This move follows another round of layoffs at Intel’s Santa Clara headquarters in California, where 107 employees were recently let go. These job cuts are part of a broader plan under Intel’s new CEO, Lip-Bu Tan, who took over earlier this year.

Intel hasn't shared the total number of layoffs company-wide, but reports suggest that up to 20% of the workforce could be affected in the coming months.

In a statement, the company said the Oregon layoffs are part of an effort to make Intel a “leaner, faster and more efficient” organization. Intel explained that reducing internal complexity and giving more power to engineers will help them better serve customers and improve performance.