Intel chip manufacturing hits rock bottom, new manufacturing plan announced

WASHINGTON — Intel Corp. said Wednesday it will cut 1,500 jobs and lay off another 500 as it tries to get back to profitability.

The chip maker said it will lay off 1,100 employees in its chip and memory manufacturing unit, a move it hopes will help revive a business that has seen a steep decline in recent years.

Intel will also cut about 700 jobs in its research and development unit, it said, while adding about 400 positions in other parts of the business.

The company said it plans to lay off workers at its headquarters in Waltham, Massachusetts, and in several other facilities, including in New Jersey and Arizona.

The company has been trying to get into the semiconductor business in recent decades, with a focus on the semiconductors used in high-end chips for smartphones, laptops and other devices.

The semiconductor industry is worth about $50 billion.

But Intel has struggled to revive its semiconductor manufacturing.

The chip maker has said its current manufacturing strategy has been unsuccessful and it will look to focus on its mobile and enterprise business.

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