Intel to Cut 12,000 Jobs Worldwide

Intel, the largest computer chipmaker in the world, will cut up to 12,000 people from its staffs world wide, or about 11% of its workforce, the company announced Tuesday.

During the end of last year, Intel employed about 107,300 staff members.
Intel said most of the employees affected by the layoffs will be notified in the next 60 days, while some of the cuts may happen through mid-2017.

The company depended heavily on the stability of the PC business years ago, and its microprocessors have stood over the PC industry. But the company has failed to replicate that success across mobile devices that have now replaced traditional desktops and laptops.

Nearly 60% of Intel’s sales and profits came from its microprocessor and chip business,
which means that any changes to the PC business have a big impact on Intel’s bottom line.