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Intel currently has approximately 113,700 employees. It last significantly reduced staff in 2016, when about 12,000 people were laid off.
Intel currently has approximately 113,700 employees. It last significantly reduced staff in 2016, when about 12,000 people were laid off.
Intel is cutting several jobs after a slowdown in the PC market sends the global chipmaker and PC supplier reeling, a report said.
Aside from PC vendors themselves, one of the companies most affected by the PC market downturn is Intel, which is now cutting thousands of jobs to reduce its revenue losses, 9to5 Mac reported.
Intel’s loss of market share to major rivals such as AMD, as well as the loss of clients such as Apple, have been identified as other factors in this downfall.
In 2020, the chip maker lost Apple as one of its main clients as the Cupertino-based company decided to put Apple’s own Silicon chips in Macs.
The report also pointed out that the divisions most affected by the cuts will be sales and marketing, which will be reduced by 20%.
Intel currently has approximately 113,700 employees. It last significantly reduced staff in 2016, when about 12,000 people were laid off.
Analysts expect Intel’s revenue to fall 15% in the third quarter, as well as the company’s profit margins. Earlier this year, the chip maker warned that revenue in 2022 would be about $11 billion lower than expected.
However, the Californian company is trying to regain market share with its chips. The company is also investing in areas such as artificial intelligence products and data centers.
It is working with TSMC to build the chips using the same 5-nanometer process as Apple’s M1 chips, 9to5 Mac reported.
According to an IDC report, the PC market fell by 15.3% to 71.3 million units in Q2 2022 compared to the same period of the previous year.
