Intel To Cut 5,300 Jobs in 2014

Intel plans to cut five percent of its global workforce in 2014, the company said Friday.

The announcement, first reported by Reuters, comes a day after the company released its fourth-quarter earnings report. That report reaffirmed what we all know: PC shipments are in rapid decline.

Earlier this week, Intel announced that it was halting plans to open its $5 billion "Fab 42" chip factory in Chandler, Arizona. Originally, the facility was to be used for all of Intel's latest and most high-profile chipsets. Instead, the facility will remain vacant and according to the company, "be targeted at future technologies." Read more...