Intel to Trim 12,000 Employees and Refocus Chip Biz
Intel today announced a major shakeup for its business over the next 18 months. The company said it plans to focus on data centers and the Internet of Things moving forward, which are Intel's fastest growing revenue sources. The global PC market, long Intel's bread and butter, has seen shipments decline for seven subsequent quarters, according to Gartner. In order to make the company more efficient, Intel will cut about 12,000 jobs, or 11% of its workforce, by the middle of 2017. Intel said it will do this by closing sites, as well as pushing voluntary and involuntary departures across its workforce. Intel plans to notify as many affected employees as possible within the next 60 days. "These actions drive long-term change to further establish Intel as the leader for the smart, connected world," said Intel CEO Brian Krzanich in an email sent to employees. "I am confident that we’ll emerge as a more productive company with broader reach and sharper execution." Intel believes these actions will result in $750 million in savings this year and $1.4 billion in savings annually in 2017 and beyond. Intel has struggled to compete in the mobile device space, which is dominated by Qualcomm, MediaTek, and others.
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