Thousands of Intel employees set to lose jobs
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Chipmaker 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. Decades-high inflation and the reopening of offices and schools have led people to spend less on PCs than they did during pa...