Intel Announces Huge Layoffs, Affecting 11% Of Total Workforce

By 11:56 Sun, 01 Aug 2021 Comments

Massive job cuts are coming at Intel. The world's largest Personal Computer (PC) chip-maker has announced that it will lay off nearly 12,000 employees globally, which translates into around 11% of the California-based company's total workforce.

The firm - which had a total of about 107,300 employees at the discontinue of last year - assumed that majority of those on the layoff list will be notified within the next couple of months, while noting that the job slit process may hold almost a year to complete.

Intel expects this restructuring will assist the company save a total of $750 million in 2016, with the figure nearing $1.5 billion by the middle of next year. Moving forward, the chip-maker assumed it will focus more on "growing" areas including convertibles, IoT, and gaming.




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