Cloud Computing: Intel to axe 12,000 jobs as PC market slump continues
April 21, 2016
Grazed from TheInquirer. Author: Carly Page.
CHIPMAKER Intel has announced plans to axe 12,000 employees, a drastic restructuring that comes as a result of a years-long slump in PC sales. Intel’s CEO Brian Krzanich announced the layoffs, which mark the most drastic change he has initiated since taking up the role back in May 2013, during the company’s first-quarter earnings on Tuesday.
As well as delivering the news that Intel’s revenues fell short of expectations, Kraznich announced that 12,000 positions, or 11 per cent of the company’s global workforce, will be axed by mid-2017. This follows 5,300 job cuts announced back in January 2014, which Intel also blamed on falling sales of desktop and laptop PCs…
Intel expects the programme to deliver $750m in savings in 2016 but noted that it will take a $1.2bn charge as a result of the restructuring. "Our results over the last year demonstrate a strategy that is working and a solid foundation for growth," Krzanich said…
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