Intel to Lay Off 1,300 Employees in Oregon

Intel announced that 1,300 of its workers in Oregon will be laid off next month.

This week, the company told its workers about the job cut, which concerns one out of every 18 workers. The company notified the state's authorities about the job cut to comply with federal law on reporting mass layoffs but didn't reveal to the public in which departments workers were let go.

Intel is the state's largest corporate employer, with 23,000 employees at the beginning of 2024. In a written statement (via The Oregonian), the company said that the reason for job cuts is the need to save money: "As part of the broad-based cost savings plan we announced in August, we are making the hard but necessary decisions to reduce the size of our workforce."

The statement reads: "These are the most difficult decisions we ever make, and we are treating people with care and respect. These changes support our strategy to become a leaner, simpler and more agile company as we position Intel for long-term sustainable growth." According to the report, the employees who took buyouts received 13 weeks of pay plus 1.5 weeks for each year they worked at the company and a year of health care benefits.

Earlier this year, Intel reportedly planned to cut thousands of jobs as part of a cost-cutting strategy to fund a significant rebound effort. In August, the company specifically announced its plans to let go of over 15% of its total workforce, which constitutes between 15,000 and 19,000 employees, in an attempt to save $10 billion next year.

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