Intel shares climbed more than 5% in after-hours trading Thursday to the highest point in more than two decades after the chipmaker reported strong quarterly sales results and said it expects continued growth in 2020 and beyond.
At the same time, the company acknowledged it plans global reductions in its workforce. Intel said the cuts affect a relatively small portion of its workforce — fewer than 1%.
Intel employs nearly 111,000 workers globally — including roughly 20,000 in Oregon, the company’s largest site. So pending cuts could impact hundreds.
“Our ambitions have just never been greater,” CEO Bob Swan told investment analysts Thursday. “We realize it’s an increasingly competitive world and we feel like we’re well positioned to deal with it.”
The Oregonian/OregonLive and tech