Intel cuts 12,000 jobs in wake of falling PC sales

 

Intel is laying off 12,000 employees, or about 11 percent of its global workforce, the company said in a statement today.

According to the statement, the company’s “restructuring initiative” comes as Intel moves to focus more on its growth businesses, such as its data center and internet of things initiatives. But the company has faced declines in PC sales and other parts of its business for some time.

“These changes will result in the reduction of up to 12,000 positions globally — approximately 11 percent of employees — by mid-2017 through site consolidations worldwide, a combination of voluntary and involuntary departures, and a re-evaluation of programs,” the statement reads. “The majority of these actions will be communicated to affected employees over the next 60 days with some actions spanning in to 2017.”