Intel plans to cut thousands of jobs in face of PC slowdown - Bloomberg News


The Intel Corporation logo is seen at a temporary office during the World Economic Forum 2022 (WEF) in the Alpine resort of Davos, Switzerland May 25, 2022. REUTERS/Arnd Wiegmann/Files

(Reuters) -Intel Corp is planning a major reduction in headcount, likely numbering in the thousands in the face of a slowdown in the personal computer market, Bloomberg News reported on Tuesday, citing people with knowledge of the situation.

The layoffs will be announced as early as this month and some of Intel's divisions, including the sales and marketing group, could see cuts affecting about 20% of staff, according to the report.

The company had 113,700 employees as of July, Bloomberg News said.

Intel declined to comment on the job cuts.

The company in July slashed its annual sales and profit forecasts after missing estimates for second-quarter results.

(Reporting by Yuvraj Malik and Abinaya Vijayaraghavan in Bengaluru; Editing by Shounak Dasgupta)

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