View a previous report on the delayed timeline of Intel’s Ohio One facility in the video player above.

NEW ALBANY, Ohio (WCMH) — As construction progresses on its semiconductor facility in central Ohio, Intel announced it’s cutting 15% of its massive workforce.

The Santa Clara, California-based company said Thursday it is also suspending its stock dividend as part of a broader plan to cut costs. The bulk of the layoffs will be completed this year.

In an email to employees from Intel CEO Pat Gelsinger, he confirmed that the cutbacks would reduce the company’s headcount by roughly 15,000 roles.

Intel reported a loss for its second quarter along with a small revenue decline, and it forecast third-quarter revenues below Wall Street’s expectations.

The computer chip manufacturer was first revealed to be coming to New Albany, Ohio, in 2022. In September of that year, ground was broken on the plant’s construction. Since then, the project has been confirmed to be on a delayed timeline — originally slated to be completed in 2025, it’s now set to be finished between 2026 and 2027 before becoming operational between 2027 and 2028.

Renderings of Intel’s Ohio One plant in Licking County were released in early May, showing what the semiconductor facility is expected to look like upon completion. As of 5:15 p.m. Thursday, an Intel spokesperson had not responded to a request for comment on the layoffs or whether they would impact the jobs coming to central Ohio.

The company posted a loss of $1.6 billion, or 38 cents per share, in the April-June period. That’s down from a profit of $1.5 billion, or 35 cents per share, a year earlier. Adjusted earnings excluding special items were 2 cents per share.

Revenue slid 1% to $12.8 billion from $12.9 billion.