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Intel

Intel to slash global workforce by 12,000 amidst PC market decline

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By John Glenday, Reporter

April 20, 2016 | 1 min read

Chip manufacturer Intel has announced that it is to slash its global workforce by 12,000 as part of moves to reduce its dependency on a PC market, which saw shipments fall by 11.5 per cent in the first quarter.

Representing around 11 per cent of its total workforce, the restructuring is set to cost the technology giant $1.2bn over the coming year.

At the end of this process Intel hopes to have reshaped itself into a leaner entity as it seeks to transition from ‘…a PC company to one that powers the cloud and billions of smart, connected computing devices.’

Analysts weren’t surprised by the move, which follows a lowering of revenue forecasts for the year, as Intel repositions itself to capitalise on its higher margin data centre business.

In a parallel statement Intel also announced that chief financial officer Stacy Smith would assume a new role leading sales, manufacturing and operations.

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