Inside sources say Intel plans to cut thousands of jobs; the Portland-based video marketing startup Brandlive raised $3.2 million.
Insiders said that the semiconductor company plans to downsize by “double digit percentages” this year, despite a boost in its Oregon workforce that brought its state headcount to a record high in April.
The cutbacks will reduce employment in some parts of the business by double-digit percentages, according to Intel insiders, amounting to thousands of job cuts across the company by the end of the year. The planned downsizing could begin soon after Intel reports its first-quarter financial results Tuesday, though sources say timing and specifics remain fluid.
The plans have not been officially announced inside the company and have not been publicly disclosed. Intel did not respond to repeated requests for comment this week.
Intel had 107,000 employees worldwide at the end of December. Its Oregon headcount is at a record high, 19,500, up 5 percent since last summer as the company ramps up work inside a new, multibillion-dollar Hillsboro research factory called D1X.
(READ MORE: Oregon Live)
Portland entrepreneur Stephen Marsh, the founder and chief executive of Portland digital archivist Smarsh, led an investment round that brought $3.2 million to boost Brandlive.
Brandlive said it will use the money to develop products for big companies, to add mobile features, and to expand its sales and marketing efforts. The company had previously disclosed $1.6 million in backing, a 2013 round led by the Oregon Angel Fund, and Brandlive said its prior investors participated in this round.
Brandlive’s clients include Levi’s, GoPro, REI and Pottery Barn. It creates interactive videos to link product experts with prospective customers to build a closer relationship with a brand’s audience and, ultimately, reduce marketing costs.
The company employs 16, all but two in Portland.
(READ MORE: Oregon Live)
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