Intel to layoff 2,400 more workers amid restructuring
Intel is letting go of almost 4,000 employees across the US as part of a big company overhaul.
CEO Lip-Bu Tan acknowledges that this move comes as Intel faces tough competition from NVIDIA and TSMC, and he has noted that the company isn't in the global top 10 chipmakers anymore.
Oregon will feel it most—job cuts there jumped from 530 to about 2,400, with California, Arizona, and Texas also affected.
Lay-off details and foundry division cuts
Laid-off staff will get at least 13 weeks' pay and health benefits.
Intel's also cutting one in five jobs in its Foundry division and moving marketing roles to Accenture to save costs.
These changes hit hard in Oregon, where tech jobs average $180K a year—way above the state norm—and show just how much local communities rely on Intel.
Intel gets $260 million in tax breaks from Oregon every year
Intel gets around $260 million every year in tax breaks from Oregon—a reminder of how deeply tied the company is to the state's economy.