BREAKING NEWS

Intel to cut up to 12,000 jobs globally as PC industry swoons

By REUTERS

APRIL 20, 2016 09:09

Intel Corp said on Tuesday it would cut up to 12,000 jobs globally, or 11 percent of its workforce, as it refocuses its business towards making microchips that power data centers and Internet connected devices and away from the declining personal computer industry it helped found.

Tech companies including the former Hewlett Packard Co and Microsoft Corp have reorganized in the face of the PC industry decline. Many new tech users around the world turn to mobile phones for their computing needs, and corporations increasingly rely on big machines rather than desktop models to run their businesses. Global personal computer shipments fell 11.5 percent in the first quarter, tech research company IDC said on Monday.

Intel, the world's largest chipmaker, lowered its revenue forecast for the year. It now expects revenue to rise in mid-single digits, down from its previous forecast of mid- to high-single digits.

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