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Intel’s new CEO plans to cut another 20% of its jobs, Bloomberg reports
The cutbacks could be devastating in Oregon. The chipmaker is the state's largest employer and makes Oregon's most valuable product.
The company has large manufacturing operations in Oregon and Arizona and retaliatory tariffs from other countries could make chips made in the U.S. more expensive than what competitors offer. Investment analysts generally agree that Intel isn’t in immediate financial jeopardy but does face systemic problems that could permanently hobble the business. He has reorganized management structure, replaced some top technology executives and finalized the sale of a majority stake in Intel’s programmable chip business, Altera.
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