Intel Confirms Mass Layoffs
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Intel told our partners at Columbus Business First that ‘slowing construction’ really does mean slowing and says they have not pushed back the 2031 finish at this time. DeWine said in a news conference Friday that he spoke with Intel’s new CEO following the announcement.
Intel’s decision to slow the pace of construction is not expected to change its timeline to open, which is set for 2030 or 2031.
Intel announced on Thursday it will "further slow" the pace of its Ohio factories in response to financial struggles. The chipmaker's first factory was originally supposed to open in 2025.
State and local officials are reacting to Intel's announcement that the company was slowing construction on its $28 billion New Albany project in Licking County.
In a news release sent out by CEO Lip-Bu Tan on July 24, he said Intel will be “further slowing construction in Ohio.”
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WCMH Columbus on MSNInside Intel’s announcement to further slow construction in New AlbanyIntel is further slowing its construction in Ohio, the company announced Thursday during its Q2 financial reports. Intel’s Q2 results were slightly better
COLUMBUS, Ohio (WSYX) — Intel is cutting projects and slowing construction in Ohio as the company slashes chip factory investments.
Intel has announced a slowdown in the construction of its Ohio projects to align spending with market demands.
Intel Corp. is shedding thousands of workers and cutting expenses as its new CEO works to revive the fortunes of the struggling chipmaker that helped launch Silicon Valley but has fallen behind rivals like Nvidia Corp. and Advanced Micro Devices Inc.
Despite layoffs, Intel appears to remain committed to its ongoing site expansion in Arizona as it retreats from other planned projects.
A Northeast Ohio economic development leader is raising concerns after the state cut funding for "mega sites" - large areas of land that can be used for development.
The sum beat Wall Street forecasts, according to consensus estimates cited by CNBC, but it wasn’t enough to offset news about higher losses, additional layoffs, and the scaling back of Intel’s foundry business.