Altera, semiconductor company owned by Intel, announces layoffs

(KRON) — In the latest sign of ongoing struggles Intel, one of the semiconductor giant’s spinoff companies has announced dozens of Bay Area layoffs. Altera Corporation, a programmable logic devices (PLD) company that was acquired by Intel in 2015, will be cutting 82 jobs, according to state filings.

The layoff at Altera Corporation’s headquarters at Innovation Drive in San Jose are permanent, according to a filing at the Employment Development Department.

Altera was founded in 1983. Intel acquired the company a decade ago, but Altera was spun off as an independent company earlier this year. It remains under Intel’s ownership, however.

The job cuts at Altera were announced last week and will take effect on Oct. 8, state filings indicate.

The Altera layoffs come on the heels of hundreds of job cuts at Intel across the Bay Area and the state. Intel’s apparent struggles took another turn last week when President Donald Trump demanded that the company’s CEO, Lip-Bu Tan, resign.

However, following a meeting with Tan at the White House Monday, Trump appeared to back off his demand, calling his success and rise, “an amazing story.”