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Intel rumoured to be cutting thousands of jobs amidst a major slowdown in the PC market

By Kenny Yeo - on 12 Oct 2022, 9:45am

Intel rumoured to be cutting thousands of jobs amidst a major slowdown in the PC market

According to a report from Bloomberg, Intel is said to be "planning a major reduction in headcount" as the PC market continues to suffer a steep decline in demand for processors.

Intel could announce the layoffs as early as this month around the same time as the company makes its third-quarter earnings report. 

And according to people with knowledge of the move, the cuts will largely affect Intel's sales and marketing groups. As much as 20% of these staff could be let go.

The company currently employs around 113,700 people worldwide and these layoffs could help reduce Intel's fixed costs by around 10% to 15%.

The demand for PCs have suffered a dramatic decline recently. Sales of PCs have fallen 15% in the third quarter from a year earlier as the world's largest PC makers, Dell, HP, and Lenovo, all suffered steep drop in sales.

And earlier in July, Intel warned that 2022 sales would be as much as US$11 billion than it had previously expected.

Intel most recently announced its new 13th Gen Core "Raptor Lake" processors.

Source: Bloomberg

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