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.

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

Intel laid off 15,000 workers last year and is preparing for another round of cuts next month, OregonLive reports, citing an internal memo. Intel Foundry head Naga Chandrasekaran informed employees about the job cuts on Saturday.