Intel lays off 5,000+ employees globally, cuts automotive division
Intel is laying off over 5,000 employees across California, Oregon, Arizona, and Texas as part of a big restructuring move.
After losing $19 billion in 2023, CEO Lip-Bu Tan wants to trim costs by $500 million this year and another $1 billion next year.
Layoffs across multiple locations
The cuts started July 11 in Folsom and now include Santa Clara (1,935 jobs), Hillsboro (2,392), Chandler (696), and Austin (about 110).
Roles range from engineering to admin.
Intel's also closing its automotive chip division in Munich and downsizing at its Israeli campus—all to streamline operations worldwide.
A brief history of Intel
Intel isn't just a chip giant—it was co-founded in 1968 by Robert Noyce and Gordon Moore.
Moore famously predicted that microchips would double in power every two years ("Moore's Law"), which basically set the pace for how fast our tech gets better!
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