Intel Cuts Jobs In Oregon As It Reshapes For The Future

Yet another tech company has decided to downsize and trim their workforce so they can be leaner and more agile. This time it's Intel. 

According to finance.yahoo.com,
‘The Oregon job reduction will hit facilities in Aloha and Hillsboro starting on July 15, Intel said in a regulatory filing. The layoffs are expected to eliminate about 529 employees on a permanent basis. The latest disclosure follows an announcement in California, where 107 employees were let go at Intel’s Santa Clara headquarters.’ 

Now, to my way of thinking, (and it may be wrong). Announcing that you're going to lay off 500 people in Oregon doesn't sound like a good thing on the surface, but investors thought differently. After the announcement Intel stock in New York went up by almost 6.9%. 

Intel has been in decline for the last several years partially because they can't keep up with companies like NVIDIA, and the kind of investment necessary to create those five nanometer chips is tremendous. We're talking billions of dollars to create a factory and several years to build it. 

The new chief executive officer of Intel, Lip-Bu Tan, has a tough job on his hands. Reducing expenses, reducing staff, fostering innovation and agility. In a business that requires giant boxes of money, years of planning and a certain amount of audacity to succeed. 

Aloha and Hillsborough are basically suburbs of Portland, with Hillsborough being the location of Intel's biggest chip factory and Research Center.  

This is just the first move in Intel's strategy to win in a highly competitive marketplace. I hope they succeed.  

Intel Cuts Over 500 Jobs in Oregon as Part of Layoff Plan
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