Intel (INTC) - Get Report has cut hundreds of U.S. information technology positions in the U.S.

The chipmaking giant reportedly laid off "a substantial number" of IT workers at sites across the company last week, multiple sources inside the company told the Oregonian newspaper

The layoffs numbered in the hundreds, people with direct knowledge of the cuts told the newspaper. Intel confirmed the layoffs but declined to specify how many people lost their jobs or describe the rationale for the cutbacks.

"Changes in our workforce are driven by the needs and priorities of our business, which we continually evaluate. We are committed to treating all impacted employees with professionalism and respect," Intel said in a brief statement acknowledging the cuts to The Oregonian/OregonLive.

The cuts took place at sites across the company, including Oregon, Intel's largest site with 20,000 workers. A person with direct knowledge of the cuts said the Oregon layoffs were in proportion to those elsewhere.

Shares of Intel were up 1.4% to $54.46 in trading on Monday. 

How Much Money Will I Need to Retire?

Want to learn about retirement planning from some of the nation's top experts? Join TheStreet's Robert "Mr. Retirement" Powell live in New York on April 6 for our Retirement Strategies Symposium. For a limited time, tickets are available for $99 for this full-day event. Check out the agenda, learn about the speakers and sign up here.