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Intel is laying off 500 employees from its Oregon manufacturing center as part of a broader plan to cut 20% of the global workforce.
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As a competitor such as AMD Income Tournament, the chipmaker's market share fell to its lowest level since 2002, at 65.3%.
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Shares Intel (NASDAQ:INTC) The rise was 6.4% at 1:13 pm ET. This is because S&P 500 (snpindex: ^gspc) and Nasdaq Composite Materials (NasdaqIndex: ^i tocie) Relatively flat.
Intel began laying off employees from one of Oregon’s operations centers as part of its major cost-cutting efforts.
Intel began laying off employees from its Oregon plant on Monday. The company is expected to lay off 500 employees from its major manufacturing hubs in North America. The move is part of the company's efforts to significantly reduce costs and is part of its 20% reduction in its global workforce.
In a statement to the media, Intel said this will help make Intel “a leaner, faster, and more efficient company,” adding that “eliminating organizational complexity and enhancing the capabilities of our engineers will enable us to better meet customer needs and enhance our execution.”
Intel is actively cutting costs while lagging behind its debris competitors Advanced Micro Devices and Arm holding. Just recently, Cloth Research reports show Intel's share of chips fell by more than 1.8% to 65.3% in the first quarter of 2025, the lowest level since Citi started modeling the industry in 2002.
While cost cuts will help improve its bottom line, it must focus on regaining market advantages and catching up with its competitors. I think that despite the troubles at the moment, Intel will eventually be able to do that and turn the boat around, but the roads can be rocky.
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