Intel just cut 12,000 jobs
Intel says it will cut 12,000 jobs — about 11 percent of its workforce — as it reorganizes to confront a decline in sales of personal computers.
The chipmaker said the cuts will include "voluntary and involuntary departures" from its operations around the world. Most of the affected workers will be notified in the next 60 days.
Intel said the cuts will provide about $1.4 billion in annual savings by the time the cuts are completed next year.
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The company, based in Santa Clara, California, is a leading supplier of computer chips, but PC sales have been declining steadily in recent years. It's trying to focus on its most profitable lines of business, which include making processors for data center computers and Internet-connected gadgets.
Additional reporting contributed by Mashable.
Topics Intel
Seth Fiegerman was a Senior Business Reporter at Mashable, where he covered startups, marketing and the latest consumer tech trends. He joined Mashable in August 2012 and is based in New York.Before joining Mashable, Seth covered all things Apple as a reporter at Silicon Alley Insider, the tech section of Business Insider. He has also worked as a staff writer at TheStreet.com and as an editor at Playboy Magazine. His work has appeared in Newsweek, NPR, Kiplinger, Portfolio and The Huffington Post.Seth received his Bachelor of Arts from New York University, where he majored in journalism and philosophy.In his spare time, Seth enjoys bike riding around Brooklyn and writing really bad folk songs.
