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Intel cuts hundreds more Bay Area jobs as tech layoffs worsen
Intel CEO Lip-Bu Tan warned in April that the quest for efficiency would be accompanied by painful job losses. The semiconductor company had previously disclosed its intentions to cut 20% of its global workforce, which would equate to 21,000 workers worldwide.
Updated: Our sources tell us mostly back office staff were let go, and that the mood in the office is very pessimistic ...
Intel’s position in the industry has slumped badly. Nevertheless, the company is hugely important to Oregon as one of its largest private employers.
Intel plans to lay off approximately 5,000 employees, primarily in California and Oregon, as part of a broader cost-cutting initiative.
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