Here\u2019s a recap of the latest news about Intel\u2019s layoffs, including the bombshell numbers for Oregon that came out Friday night.<\/p>\n
New CEO Lip-Bu Tan is streamlining Intel\u2019s operations and reducing spending in response to a sharp downturn in sales and technological setbacks that rendered Intel an also-ran in an industry it helped invent.<\/p>\n
Intel had been firing workers all last week but then Friday evening came word the company plans to lay off nearly 2,400 Oregon workers.<\/p>\n
Friday night bombshell<\/a><\/p>\n Intel\u2019s position in the industry has slumped badly. The company\u2019s market value is around $100 billion, about half what it was just 18 months ago. Nevertheless, the company is hugely important to Oregon as one of its largest private employers.<\/p>\n Tan had a stark message to employees last week as layoffs began.<\/p>\n Intel\u2019s CEO: \u2018We are not in the top 10\u2019 <\/a><\/p>\n The company had declined to release specific layoff numbers but warned they would be high.<\/p>\n Chipmaker is cutting many thousands of jobs<\/a><\/p>\n Across the U.S., Intel had disclosed plans to lay off at least 3,999 workers by the middle of July at sites in Oregon, California, Arizona and Texas. The company has indicated additional layoffs could continue for several weeks.<\/p>\n But the initial numbers in Oregon were closer to 500 layoffs.<\/p>\n Intel cuts begin<\/a><\/p>\n Then Friday\u2019s news dropped. Also on Friday, the Mercury News reported Intel\u2019s plans to slash more than 400 Bay Area jobs.<\/p>\n According to official WARN notices that Intel filed with the state Employment Development Department, the company said it had previously sent estimates to the state that the company was planning to eliminate 215 jobs. Those estimates have been updated.<\/p>\n \u201cWe now anticipate that the number of Santa Clara employees scheduled to terminate during this period has increased to 410,\u201d Intel\u2019s James Warner stated in the July 7 letter.<\/p>\n All of the layoffs that Intel has disclosed to the state agency for July will affect people who work at or near the company\u2019s main headquarters complex in Santa Clara.<\/p>\n Separately, Intel has reported plans to cut 174 jobs in the Sacramento County city of Folsom, EDD filings show. <\/p>\n In Ireland, Intel\u2019s main manufacturing plant outside the U.S., 194 workers will be laid off, according to reports by Israeli business daily Globes. <\/a>The layoff rate at the Irish plant will be only 4% \u2014 likely due to the importance of the plant because it produces the company\u2019s latest chips \u2014 3 and 4 nanometer chips.<\/p>\n In Israel, looming layoffs mean Intel is expected to have less than 9,000 employees there and perhaps even stabilize at 8,500 people \u2014 a similar number to its 2012 headcount, with less than 4,000 employees at its manufacturing plant in Kiryat Gat.<\/p>\n –From staff reports and Tribune News Service <\/p>\n If you purchase a product or register for an account through a link on our site, we may receive compensation. By using this site, you consent to our User Agreement<\/a> and agree that your clicks, interactions, and personal information may be collected, recorded, and\/or stored by us and social media and other third-party partners in accordance with our Privacy Policy.<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"Here\u2019s a recap of the latest news about Intel\u2019s layoffs, including the bombshell numbers for Oregon that came…\n","protected":false},"author":2,"featured_media":7283,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[27],"tags":[7604,7605,7606,7607,7608,28,7609,7610,7611,2075,7612,7613,7614,7615,7616,7617,7618,7619],"class_list":["post-7282","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business","tag-7604","tag-7605","tag-7606","tag-7607","tag-7608","tag-business","tag-employe-benefit","tag-employee-benefit","tag-fin","tag-hardware","tag-krt2019","tag-krtbusiness-business","tag-krtcomputersci-computer-science-information-technology-it","tag-krtlabor-labor","tag-lab","tag-pension","tag-sci","tag-wage"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/posts\/7282","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/comments?post=7282"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/posts\/7282\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/media\/7283"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/media?parent=7282"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/categories?post=7282"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/tags?post=7282"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}