Intel reportedly planning major layoffs, likely affecting thousands of jobs

Intel is planning substantial job cuts, likely numbering in the thousands, according to a report from Bloomberg News. The reduction in headcount is a response to declining demand for the company’s consumer chips — part of a wider downturn in the PC market.

The layoffs will hit Intel’s sales and marketing teams particularly hard, says Bloomberg, affecting around 20 percent of team members. The cuts will reportedly be announced “as early as this month,” around the same time as Intel’s third-quarter earnings report on October 27th. The company currently has 113,700 employees.

After two years of booming sales during the pandemic, the PC market is now struggling. Recent analysis from Gartner found that worldwide shipments totaled 68 million...

Continue reading…