Latest news with #JonesFarmCampus
Yahoo
11-07-2025
- Business
- Yahoo
Intel plans to lay off more than 500 Oregon workers
This story was originally published on Manufacturing Dive. To receive daily news and insights, subscribe to our free daily Manufacturing Dive newsletter. Intel Corp. is laying off more than 500 employees across four locations in Oregon as leadership looks to cut costs and simplify operations, according to Worker Adjustment and Retraining Notification filings dated July 7. In a letter addressed to state and local officials, the chipmaker said the cuts will affect approximately 529 employees that work at or report to Intel campuses in Aloha and Hillsboro, Oregon. 'We are making these decisions based on careful consideration of what's needed to position our business for the future, and we will treat people with care and respect as we complete this important work,' Intel said in an emailed statement Tuesday. The changes will largely affect software and hardware engineers, developers and managers, as well as scientists and other specialists with backgrounds in artificial intelligence and cloud computing, according to a detailed list of affected jobs. The vast majority of cuts — about 450 — are happening at Intel's Jones Farm Campus, which focuses on chip design work as well as research and development. A spokesperson declined to elaborate on which departments or segments are being affected. Recently, the company said it will 'wind down' the automotive business within its client computing group, The Oregonian/Oregon Live first reported. The state is considered 'the heart' of Intel's R&D operations, according to Intel's website, with more than 22,000 employees across four campuses. The Oregon operations make up Intel's largest concentration of facilities and talent in the world. 'We are taking steps to become a leaner, faster and more efficient company,' Intel said on Tuesday. 'Removing organizational complexity and empowering our engineers will enable us to better serve the needs of our customers and strengthen our execution.' In addition to Jones Farm, the chipmaker's cuts are also affecting dozens of employees at Intel's Aloha, Hawthorne Farm and Ronler Acres campuses that support semiconductor research and manufacturing. All affected employees have been or are being notified of layoffs between 30 and 60 days before their separations take effect, Intel said in its letter. They are set to receive nine weeks of pay and benefits, with the first wave of layoffs scheduled to begin on July 15. There is no union representing the affected employees. Since taking over in March, CEO Lip-Bu Tan has expressed a need to rightsize Intel in the face of financial struggles and volatile market conditions. In a companywide letter in April, he said Intel is seen as 'too slow, too complex and too set in our ways — and we need to change.' Intel has repeatedly pushed back its $28 billion Ohio One project in New Albany, which broke ground in 2022. The project is now slated to be ready by 2030, at the earliest. Tan said in his letter that many teams at Intel are 'eight or more layers deep,' creating unnecessary bureaucracy that makes the company less competitive. 'There is no way around the fact that these critical changes will reduce the size of our workforce,' he wrote in April. 'We will move as quickly as possible over the next several months.' In addition to Oregon, Intel recently notified approximately 271 employees across Folsom and Santa Clara, California of layoffs, according to a state WARN filing. Those changes are also scheduled to take effect next week. Recommended Reading Intel to shutter its automotive business, lay off department employees Sign in to access your portfolio
Globe and Mail
10-07-2025
- Business
- Globe and Mail
Can Intel Be Leaner & More Agile by Laying Off 529 Employees?
Intel Corporation INTC is reportedly laying off 529 employees across four locations in Oregon to minimize operating costs and reduce organizational complexity to better serve customers. These include software and hardware engineers, developers, managers, scientists and other domain specialists with backgrounds in artificial intelligence (AI) and cloud computing. A lion's share of the job cuts is taking place at Intel's Jones Farm Campus, which focuses on chip design work as well as research and development (R&D). The other facilities that are witnessing job cuts include the Aloha, Hawthorne Farm and Ronler Acres campuses, which support semiconductor research and manufacturing. Oregon boasts the largest number of Intel's facilities and workforce, with about 22,000 employees. By trimming its huge employee base, the company aims to eliminate unnecessary bureaucracy levels and become leaner and more agile, regaining its competitive edge. This follows a similar exercise a few days back, when the company decided to wind up its automotive architecture business as part of a broader restructuring process to trim operating costs and boost liquidity. Intel expects to free up significant resources by winding down this peripheral unit, thereby making more money available for R&D funding in the core PC and data center segments. Intel has been investing in expanding its manufacturing capacity to accelerate its IDM 2.0 (Integrated Device Manufacturing) strategy. Interim management is committed to keeping the core strategy unchanged despite efforts to drive operational efficiency and agility. The company is emphasizing the diligent execution of operational goals to establish itself as a leading foundry. It is focusing on simplifying parts of its portfolio to unlock efficiencies and create value. Other Tech Firms Laying Off Employees Microsoft Corporation MSFT has laid off 6,000-7,000 employees as part of a broader restructuring strategy focused on boosting AI innovation and reducing organizational layers. The job cuts are purportedly aimed at reducing redundancy, particularly in middle management and support functions. Microsoft is reallocating the freed-up resources toward high-growth AI areas like Azure AI, Copilot and custom silicon. In addition to some non-core roles within the Azure cloud, Microsoft laid off employees from its legacy hardware operations and gaming divisions. Meta Platforms, Inc. META has conducted multiple smaller rounds of layoffs this year, affecting around 3,600 employees across departments. A majority of the job cuts occurred in Meta's metaverse division, Reality Labs, as the company trimmed roles in hardware, AR/VR and software development that were deemed non-core. In addition, Meta eliminated various non-essential jobs while prioritizing AI-powered discovery businesses. INTC's Price Performance, Valuation and Estimates Intel shares have declined 30% over the past year against the industry 's growth of 23.5%. Going by the price/sales ratio, the company's shares currently trade at 1.97 forward sales, lower than 14.95 for the industry. Earnings estimates for 2025 have decreased 6.7% to 28 cents per share over the past 60 days, while the same for 2026 have declined 6.3% to 74 cents. Intel stock currently carries a Zacks Rank #4 (Sell). You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here. Higher. Faster. Sooner. Buy These Stocks Now A small number of stocks are primed for a breakout, and you have a chance to get in before they take off. At any given time, there are only 220 Zacks Rank #1 Strong Buys. On average, this list more than doubles the S&P 500. We've combed through the latest Strong Buys and selected 7 compelling companies likely to jump sooner and climb higher than any other stock you could buy this month. You'll learn everything you need to know about these exciting trades in our brand-new Special Report, 7 Best Stocks for the Next 30 Days. Download the report free now >> Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Intel Corporation (INTC): Free Stock Analysis Report Microsoft Corporation (MSFT): Free Stock Analysis Report Meta Platforms, Inc. (META): Free Stock Analysis Report
