Intel, which is headquartered in Santa Clara, California, is looking to cut more than 500 employees in Oregon, say local media reports.
While the organisation has not made any official announcement, local media reports say that 500 employees will shortly be laid off at the company’s Aloha and Hillsboro sites in Oregon.
The layoff process is expected to begin on July 15.
As per the report in the ‘Portland Business Journal’, the decision comes just after the joining of new Chief Executive Officer (CEO) Lip-Bu Tan, who took over from Patrick Paul Gelsinger.
After Lip-Bu Tan arrived at Intel Corporation, the firm made a significant decision to sell a major stake of its Altera programmable chips unit.
Altera chips are basically for the targeted use in wireless communication, video surveillance, and medical equipment markets.
This layoff move is in line with Tan’s ambitions of restructuring Intel’s performance in the market after a successive decline in performance during the previous quarters.
