Intel planning to cut thousands of jobs?

Posted on Saturday, Apr 16 2016 @ 23:06 CEST by Thomas De Maesschalck
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Multiple Intel insiders confided to The Oregonian that the chip giant is preparing a massive round of job cuts across most of its business units. The timing and specifics remain fluid, but the sources say the plan will likely be implemented this spring and will amount to thousands of job cuts.

Some of Intel's divisions will reportedly be hit by double-digit cuts as the firm wants to reposition itself for long-term changes in the marketplace. Several operations may be consolidated while some smaller outposts may be closed.
Intel is fighting a prolonged decline in the PC market, which accounts for more than 60 percent of its revenue, as consumers and businesses shift to mobile and delay upgrading older computers. The company appears to be reshaping its leadership and its workforce as it tries to develop new markets beyond the PC.

The pending cuts are part of a rapidly unfolding reorganization at Intel, accompanied by a major overhaul within Intel's executive ranks. Former president Renée James left last year, replaced by Venkata "Murthy" Renduchintala, who was hired last year from rival chipmaker Qualcomm. And Intel announced last week that two top vice presidents who reported to Renduchintala are leaving. Sources inside the company say the roles of other top executives are also in flux.

About the Author

Thomas De Maesschalck

Thomas has been messing with computer since early childhood and firmly believes the Internet is the best thing since sliced bread. Enjoys playing with new tech, is fascinated by science, and passionate about financial markets. When not behind a computer, he can be found with running shoes on or lifting heavy weights in the weight room.

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