Intel plans thousands of job cuts in face of PC slowdown

The layoffs will be announced as early as this month, with the company planning to make the move around the same time as its third-quarter earnings report on Oct 27, said the sources. — Bloomberg

Intel Corp is planning a major reduction in headcount, likely numbering in the thousands, to cut costs and cope with a sputtering personal-computer market, according to people with knowledge of the situation.

The layoffs will be announced as early as this month, with the company planning to make the move around the same time as its third-quarter earnings report on Oct 27, said the people, who asked not to be identified because the deliberations are private. The chipmaker had 113,700 employees as of July.