Overview

• Intel will eliminate 529 positions at four Oregon facilities on July 15 and has already cut 107 jobs at its Santa Clara headquarters earlier this year.
• The announcement triggered a more than 7% surge in Intel’s share price as investors bet on CEO Lip-Bu Tan’s restructuring strategy.
• The latest reductions form part of a multi-stage overhaul that began with smaller mid-2024 cuts and a 15,000-job reduction in October 2024.
• Tan’s plan aims to create a leaner, faster and more efficient organization as Intel seeks to regain ground lost to rivals like Nvidia in AI computing.
• Intel’s workforce has exceeded 100,000 employees but could shrink by up to 20% globally according to Bloomberg estimates, reflecting tech-sector cost-cutting trends.