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Oct 11 (Reuters) – Chipmaker Intel Corp (INTC.O) is planning a serious discount in headcount, doubtless numbering within the 1000’s, within the face of a slowdown within the private laptop market, Bloomberg Information reported on Tuesday, citing folks with information of the scenario.
The layoffs might be introduced as early as this month and a few of Intel’s divisions, together with the gross sales and advertising and marketing group, may see cuts affecting about 20% of workers, according to the report.
The corporate had 113,700 workers as of July, Bloomberg Information stated.
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Intel declined to touch upon the job cuts.
The corporate in July slashed its annual sales and profit forecasts after lacking estimates for second-quarter outcomes.
Many years-high inflation and the reopening of places of work and colleges have led folks to spend much less on PCs than they did throughout pandemic-related lockdowns.
Chipmakers are additionally below strain from COVID-19 curbs in key PC market China and the Ukraine battle which have led to supply-chain snarls and in addition weighed on demand.
Intel’s Chief Government Officer Pat Gelsinger launched a memo to firm workers on Tuesday outlining plans to create an inner foundry mannequin for exterior prospects and the corporate’s product strains.
A foundry enterprise builds chips that different firms design and Taiwan Semiconductor Manufacturing Co (2330.TW) is the highest participant in that area. Intel has primarily constructed chips it designed itself to this point. read more
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Reporting by Yuvraj Malik and Abinaya Vijayaraghavan in Bengaluru; Enhancing by Shounak Dasgupta
Our Requirements: The Thomson Reuters Trust Principles.
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