Altera to Cut Nearly 100 Jobs at San Jose HQ

According to recent reports, programmable chip maker Altera — spun off from Intel earlier this year — will lay off 82 employees at its San Jose headquarters this fall. The company did not reveal which departments or roles will be affected.

Founded in 1983 and acquired by Intel in 2015 for $16.7 billion, Altera had operated as Intel's Programmable Solutions Group until regaining independence after Intel sold a 51% stake to private equity firm Silver Lake for $8.75 billion. Intel still holds the remaining 49%, with the deal expected to fully close later this year. The move aims to give Altera greater operational freedom while allowing Intel to focus on its core semiconductor business.

Sources familiar with the matter said the layoffs reflect the company's restructuring under new ownership. The decision comes amid a wave of tech job cuts sweeping California's Bay Area, including significant reductions at Intel itself.

The timing is politically sensitive for Intel, following recent public comments from former U.S. President Donald Trump urging Intel CEO Lip-Bu Tan to step down over alleged links to Chinese semiconductor firms. After a meeting at the White House last week, Trump praised Tan's career, prompting Intel shares to rise 3.5%.

Altera's programmable chips are used across telecom, data centers, and automotive technology, making the company a key player in emerging tech markets. Under Silver Lake's majority ownership, Altera plans to accelerate innovation and agility to stay competitive in a fast-evolving landscape.