Struggling chip giant Intel is reportedly preparing to slash up to 20% of its global workforce next month — despite the company receiving more than $2 billion in federal funding under former President Biden’s signature CHIPS Act.

Intel has reportedly tolf staffers it plans to lay off 15-20% of its workers from its chip manufacturing division, with more job cuts in other divisions.

Next month’s layoffs will take place at Intel sites around the world but could have an especially big effect in Oregon.