‘Things aren’t good’: Prominent Portland businessman says Intel layoffs will impact all of Oregon

PORTLAND, Ore. (KOIN) — A prominent Portland businessman says mass layoffs at Intel will have ripple effects throughout the entire state.

Jordan Schnitzer says it could have a big impact on his company Schnitzer Properties, one of the West Coast’s Top 10 private real companies, according to their website.

Intel is Oregon’s largest private employer, with more than 22,000 workers. Intel says 529 of those workers will lose their jobs at facilities in Hillsboro and Aloha starting July 15.

The cuts are part of a 20% company-wide reduction in staff for Intel, once the world’s leading maker of semiconductors.

With the advancement of AI, Intel has lost much of its technological advantage and market share.

“We have one new tenant moving into an industrial project in Sherwood called Olympus Controls. They make automated equipment for Intel. I don’t know whether this layoff affects them directly. But these things aren’t good. We need to realize that those 529 people being let go… They have kids in school. They go to movies. They buy groceries. They go to recreation places. We can’t afford to lose one single job in this state,” Schnitzer said.

Schnitzer says the layoffs at Intel are not necessarily related to Oregon’s business and tax climate. But he says the state needs to be more business-friendly to avoid losing businesses and population in the future, especially in Portland and Multnomah County.

Despite the layoffs, Schnitzer is still optimistic about the state’s future.

“As long as they don’t move Mt. Hood or the ocean…Oregon will remain a great place to live and raise families,” he said.