Yet another tech company has decided to downsize and trim their workforce so they can be leaner and more agile. This time it’s Intel.
According to finance.yahoo.com,
‘The Oregon job reduction will hit facilities in Aloha and Hillsboro starting on July 15, Intel said in a regulatory filing. The layoffs are expected to eliminate about 529 employees on a permanent basis. The latest disclosure follows an announcement in California, where 107 employees were let go at Intel’s Santa Clara headquarters.’
Now, to my way of thinking, (and it may be wrong). Announcing that you’re going to lay off 500 people in Oregon doesn’t sound like a good thing on the surface, but investors thought differently. After the announcement Intel stock in New York went up by almost 6.9%…