Intel Plans to Cut Thousands of Jobs As PC Slowdown Causes Concern

Final Up to date: October 12, 2022, 11:15 IST

Intel is more likely to make this determination primarily based on the slowing demand for PCs

Chipmaker Intel Corp is planning a significant discount in headcount, seemingly numbering within the 1000’s, within the face of a slowdown within the private pc market, Bloomberg Information reported on Tuesday, citing individuals with information of the scenario.

(Reuters) -Chipmaker Intel Corp is planning a significant discount in headcount, seemingly numbering within the 1000’s, within the face of a slowdown within the private pc market, Bloomberg Information reported on Tuesday, citing individuals with information of the scenario.

The layoffs might be introduced as early as this month and a few of Intel’s divisions, together with the gross sales and advertising group, might see cuts affecting about 20% of workers, based on the report.

The corporate had 113,700 workers as of July, Bloomberg Information stated.

Intel declined to touch upon the job cuts.

The corporate in July slashed its annual gross sales and revenue forecasts after lacking estimates for second-quarter outcomes.

Many years-high inflation and the reopening of places of work and faculties have led individuals to spend much less on PCs than they did throughout pandemic-related lockdowns.

Chipmakers are additionally underneath strain from COVID-19 curbs in key PC market China and the Ukraine battle which have led to supply-chain snarls and likewise weighed on demand.

Intel’s Chief Govt Officer Pat Gelsinger launched a memo to firm workers on Tuesday outlining plans to create an inside foundry mannequin for exterior prospects and the corporate’s product traces.

A foundry enterprise builds chips that different firms design and Taiwan Semiconductor Manufacturing Co is the highest participant in that house. Intel has primarily constructed chips it designed itself up to now.

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