SANTA CLARA, Calif. (WCMH) — Intel plans to lay off employees across a number of divisions, potentially around the time it reports its quarterly earnings in October, Bloomberg News reported Tuesday.
The computer chip-making company — which is in the early construction stages of a $20 billion semiconductor fabrication plant in New Albany — has suffered from a “steep decline in demand for PC processors,” or computer chips, according to Bloomberg. The central Ohio plant will eventually manufacture chips.
Bloomberg reported the number of layoffs could be “in the thousands.” Intel is scheduled to share its third-quarter earnings in just over two weeks, on Oct. 27 after the stock market closes.
In July, the company reduced its full-year revenue guidance. CEO Pat Gelsinger cited economic challenges and the company’s “own execution issues” as reasons for a difficult second quarter, according to a press release.
The company declined comment on Bloomberg’s reporting as of Wednesday afternoon, and an Intel spokesperson told NBC4 the company couldn’t comment on Bloomberg’s report or how potential layoffs might affect Ohio. About 40 roles are listed in Ohio on the company’s job board.