The planned 15,000 layoffs at Intel are underway as the company is letting go 1,300 people at its Oregon facility in Gordon Moore Park location.
According to local paper The Oregonian, the 1,300 people are roughly 5% of the workforce in the state.
The layoffs are part of Intel’s plan to make $10 billion in savings for 2025. According to the company, revenue has fallen by roughly 33% since 2021.
“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,” Intel said in a statement via The Oregonian. “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.”
At the start of 2024, Intel, the largest corporate employer in Oregon, employed 23,000 people. While not confirming the amount, Intel says that some employees took early retirement or buyouts as part of the headcount reduction efforts.
Those who took buyouts, per the report, received 13 weeks of pay plus an addition 1.5 weeks for each year they worked for Intel. They also received a year of health care benefits.
The notice was given to those at the location on Tuesday. The layoffs are expected to be official in November.
For more Insider Gaming Tech, read about the latest rumors surrounding the release date of the next-generation Nvidia RTX 50 series graphics cards.
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