Intel now to lay off nearly 2,400 employees in Oregon

Intel Corporation revealed plans to lay off 2,392 employees in Oregon, a significant increase from the previously announced 529 layoffs. The job cuts will begin on July 15 and are expected to be permanent, impacting multiple facilities in Hillsboro and Aloha. Affected employees will receive nine weeks of pay and benefits, and the company noted that none of the laid-off workers are unionized. Intel's first-quarter financial results showed flat revenue, leading CEO Lip-Bu Tan to emphasize the need for urgent measures to address the current macroeconomic challenges. He stated that the company must refocus on engineering and simplify its organizational structure.

Tan acknowledged that these changes would inevitably reduce the workforce size. Intel plans to announce its second-quarter financial results on July 24, which may provide further context on the company's performance. This move reflects broader industry trends of workforce reductions amid economic uncertainties.