Intel Lays Off 1,300 At Oregon Facility As It Continues Cost Reduction Plans

As a long-time resident of Oregon and a dedicated gamer, these recent news from Intel have left me feeling both concerned and saddened. Having spent countless hours at Gordon Moore Park, I can’t help but imagine the empty cubicles that once buzzed with innovation and creativity.

Intel’s announced job cuts, totaling 15,000 positions, have commenced. Specifically, 1,300 employees are being released from their roles at the company’s Oregon facility situated within Gordon Moore Park.

Approximately 1,300 individuals make up around 5% of the labor force in Oregon, as reported by local newspaper The Oregonian.

Intel’s cost-cutting strategy includes reducing its workforce as a means to achieve a projected $10 billion in savings by 2025. As stated by the company, their revenue has decreased approximately 33% compared to figures from 2021.

In line with the cost-cutting strategy we unveiled in August, we’re taking tough but essential steps to diminish our workforce. This is a challenging process, and we’re handling it with sensitivity and respect towards our employees. These alterations are aimed at streamlining Intel into a more streamlined, straightforward, and adaptable company, setting the stage for our long-term growth that is both steady and sustainable.

In January 2024, Intel, the leading employer in Oregon, was employing approximately 23,000 individuals. Although they have yet to disclose specific numbers, Intel has indicated that some staff members opted for early retirement or buyout packages as part of their workforce reduction strategies.

According to the report, Intel employees who opted for buyouts were rewarded with 13 weeks of salary, along with an extra 1.5 weeks for every year they had served at the company. On top of that, they were granted a full year’s worth of healthcare benefits.

On Tuesday, the notification was delivered to those present at the site.

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