Major tech company quietly quadruples number of layoffs as jobs apocalypse spreads
Intel is cutting thousands of jobs as it faces mounting pressure from tech competitors in artificial intelligence.
The chipmaking giant — which makes processors that power millions of Dell, HP, and Lenovo computers — filed paperwork on July 10 indicating it would lay off nearly 2,400 employees in Oregon.
That's a major escalation from just three days earlier, when the company filed WARN paperwork that said only 529 employees were losing their jobs.
The Oregon layoffs are likely part of a broader belt-tightening at the tech giant.
In mid-June, the company said it was hoping to slash about 15 to 20 percent of its workforce.
With Intel employing 109,000 globally, that would mean 16,350 to 21,800 staffers would lose their job.
Recently, Intel reported employing more than 20,000 workers at its plant in Hillsboro, Oregon.
'We are taking steps to become a leaner, faster and more efficient company,' the company told DailyMail.com.
'Removing organizational complexity and empowering our engineers will enable us to better serve the needs of our customers and strengthen our execution.'
Intel declined to comment on which positions are most affected in the latest round of layoffs, but said the cuts were communicated with the utmost 'care and respect' for employees.
This marks the second major round of job cuts at Intel in the past two years.
In December, the company ousted its CEO while nixing 15 percent of its workforce in 2024.
The job cuts are coming on the back of a turbulent period for the Silicon Valley stalwart. Intel has faced mounting competition from faster-moving rivals and criticism for falling behind in the AI race.
Chipmakers like AMD, IBM, TSMC, and especially NVIDIA have surged ahead by investing aggressively in processors built specifically for artificial intelligence workloads.
NVIDIA — whose chips now power nearly 80 percent of AI platforms — recently became the first company to ever reach a valuation over $4 trillion.
Lip-Bu Tan, Intel's CEO, has led the company's share price to rebound in 2025 after a terrible 2024 stock performance
Intel has received constant criticism for its perceived flat-footedness in the AI market - the company's processors for personal computers are not the dominant chip
Meanwhile, Intel's stock has slumped in the past year.
Shares have fallen more than 32 percent, though the company has rebounded somewhat in 2025, with stock prices climbing 15 percent since January.
Part of the resurgence comes from positive relationships with Washington.
Intel is receiving billions in federal support through the bipartisan CHIPS and Science Act, which aims to restore domestic manufacturing of strategically critical technologies.
The company is awaiting $6.9 billion in government grants to support factory builds and expansion in Oregon, Arizona, New Mexico, and Ohio.
Intel has delayed construction of its Ohio factory until 2030.
Still, the company's balance sheets are deep in the red. In the first quarter of 2025, Intel posted an $821 million loss.
Its next earnings report is expected next week.
Intel is joined by a list of tech and manufacturing giants that are slimming down their workforces because of AI.
Microsoft will eliminate thousand of positions this month as it makes deeper investments in the tech.
Amazon and Ford's CEOs have also said they're planning on slashing staff to use more generative models.
But while headlines are building about the job loss impact from the new tech, US employment data hasn't shown massive changes from AI.
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