Intel to cut jobs due to slow PC demand
Chipmaker Intel Corp is planning a major pullback in headcount due to a slowdown in the personal computer market. Decades-high inflation and the reopening of offices and schools have led people to spend less on PCs than they did during pandemic-related lockdowns.
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. As of July, the company had 113,700 employees.
Intel’s Chief Executive Officer Pat Gelsinger released a memo to company employees outlining plans to create an internal foundry model for external customers and the company’s product lines. A foundry business builds chips that other companies design. Intel has mainly built chips it designed itself so far.
Chipmakers are also under pressure from Covid-19 curbs in key PC market China and the Ukraine conflict that have led to supply-chain snarls and also weighed on demand.
See What’s Next in Tech With the Fast Forward Newsletter
Tweets From @varindiamag
Nothing to see here - yet
When they Tweet, their Tweets will show up here.