Intel Layoffs Expand Amid Restructuring and Altera Sale

Intel has initiated global layoffs, with thousands of positions cut in Oregon, Arizona, and Israel, particularly affecting manufacturing and engineering roles. In Oregon, 529 employees across several campuses will be laid off, while Arizona’s Chandler campus will lose 172 jobs, and several hundred employees at Israel’s Kiryat Gat plant will be let go for the first time. These cuts are part of CEO Lip-Bu Tan’s efforts to streamline Intel for greater efficiency amid ongoing financial losses and declining competitiveness in AI and semiconductor markets. The restructuring includes divestitures such as selling a majority stake in Intel’s Altera unit. Local business leaders warn of economic ripple effects impacting suppliers and communities. Despite the cuts, Intel’s stock rose as investors welcomed the cost-saving measures.