The company has made smaller cuts since then and shuttered several divisions, including its cellular modem and drone units. Intel’s last big wave of layoffs occurred in 2016, when it trimmed about 12,000 jobs, or 11% of its total. Intel, based in Santa Clara, California, declined to comment on the layoffs. “We are also lowering core expenses in calendar year 2022 and will look to take additional actions in the second half of the year,” Chief Executive Officer Pat Gelsinger said at the time. And Intel’s once-enviable margins have shriveled: They’re about 15 percentage points narrower than historical numbers of around 60%.ĭuring its second-quarter earnings call, Intel acknowledged that it could make changes to improve profits. Analysts are predicting a third-quarter revenue drop of roughly 15%. In July, the company warned that 2022 sales would be about $11 billion lower than it previously expected.
#SPEED READER CROSSWORD PC#
Intel is facing a steep decline in demand for PC processors, its main business, and has struggled to win back market share lost to rivals like Advanced Micro Devices. Some divisions, including Intel’s sales and marketing group, could see cuts affecting about 20% of staff, according to the people. The chipmaker had 113,700 employees as of July. 27, said the people, who asked not to be identified because the deliberations are private. The layoffs will be announced as early as this month, with the company planning to make the move around the same time as its third-quarter earnings report on Oct. Intel is planning a major reduction in headcount, likely numbering in the thousands, to cut costs and cope with a sputtering personal-computer market, according to people with knowledge of the situation.
0 kommentar(er)
