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Intel Job Cut: Veteran IT company Intel is planning to reduce its workforce. According to a Bloomberg report, Intel may soon lay off its staff. The report claims that chipmaker Intel Corp is planning a major reduction in headcount due to the slowdown in the personal computer market. This number can reach thousands. According to the report, layoffs can be announced soon. The number of employees in some divisions of Intel, including sales and marketing, could be reduced by as much as 20 percent. Bloomberg News further reported that there were 113,700 employees in the company as of July. Hapnaise Intel has for the time being turned away from commenting on the news of the job cuts.
Why Intel’s condition deteriorated
In July, Intel slashed its annual sales and profit forecast after its second-quarter results. People have spent less on PC in recent times due to rising inflation rate and reopening of offices and schools. Let us tell you, PC sales had increased during the period of Corona epidemic. During the lockdown, work was being done in computer work from home culture. These companies benefited a lot in Corona. Now these days other chipmakers are also under pressure due to the Kovid in China, the main market of PC and Ukraine conflict in Europe. Due to this there has been a disruption in the supply chain and there has been a huge impact on demand.
Crisis on chip maker
Intel CEO Pat Gelsinger issued a notice to the company’s employees on Tuesday, outlining plans to build an internal foundry model for customers and the company’s production lines. Let us tell you, chips are made in the foundry business, which other companies make and prepare. Intel’s business is mainly spread in chip manufacturing, which it also designs itself.
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