PORTLAND, Ore. — Intel plans to layoff approximately 1,300 employees in Oregon starting on Nov. 15, according to a notice the tech giant sent to state officials.
The planned layoffs will occur at four of Intel's locations in Oregon, including its campus in Aloha, Hawthorne Farm Campus, Jones Farm and Ronler Acres in Northeast Hillsboro.
The tech giant is Oregon's second-largest private employer. It announced in August that it will cut 15% of its total workforce, which will be close to 15,000 jobs worldwide.
"As part of the broad-based cost savings plan we announced in August, we are making the hard but necessary decisions to reduce the size of our workforce," Intel said in a statement. "These are the most difficult decisions we ever make, and we are treating people with care and respect."
According to Intel's notice, the first wave of layoffs will occur during a 14-day period, starting on Nov. 15. Employees laid off will be given either a four-week or 60-day notice.
The tech company has struggled to keep up with competitors, particularly when it comes to incorporating artificial intelligence. At the same time, it's been making big investments in expansions in Ohio, Arizona and Oregon.
Earlier this year, Intel had its worst day on Wall Street in half a century, with its shares losing more than a quarter of their value, which it has struggled to bounce back from.
In many ways Intel has been seen as a bright light in Oregon's economy, helping the state to earn its "Silicon Forest" nickname. In March, the company announced a $36 billon expansion of its Hillsboro chipmaking campus. The company has also been a major beneficiary of CHIPS and Science Act funding from the Biden administration, pulling in $8.5 billion.
"These changes support our strategy to become a leaner, simpler and more agile company as we position Intel for long-term sustainable growth," Intel said.
Pat Dooris and Jamie Parfitt contributed reporting this article.