25th April 2025
The Minister for Enterprise, Tourism and Employment, Peter Burke said:
"I continue to engage with Intel, supported by colleagues in IDA Ireland, in what is a difficult time for staff in the midst of continued uncertainty.
I note the publication of Intel’s Q1 financial results last night and comments from CEO Lip Bu Tan that they were ‘a step in the right direction’, while also confirming there will be a reduction in Intel’s workforce globally.
While no specifics around the number or location of job cuts were flagged, the company have said they plan to reduce operating costs by $500m this year and $1 billion next year, and stated this will include a reduction in the workforce, particularly in management and non-core engineering roles. It is likely to be several weeks before detail is available on the impact of these cost reduction measures.
While we await further specifics on potential downsizing, which is an incredibly anxious time for Intel’s staff, it is positive that the company have stated that they will continue to focus investment on their core business, the manufacturing of semiconductor products. This is the primary activity in Ireland.
It is also worth noting that Intel has completed the construction of the most advanced semiconductor manufacturing facility in Europe in Fab 34, which is now in production in Leixlip and can be central to Intel’s growth recovery strategy. This €17 billion investment is just the latest in Intel’s 35-year history operating here, with the Irish government, through IDA Ireland, partnering with Intel on this journey.
My thoughts remain with staff and their families, many of whom are extremely concerned. I continue to keep in touch with local management and I am meeting them again next week.
Government continues to value our long-term partnership with Intel and will continue to work with the company as it works through its plans over the coming weeks and months, as demand for semiconductors remains strong."
ENDS
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