Intel, an American multination computer and software corporation, is planning to lay off thousands of employees as it sees PC demands nosedive.
Although the company itself is yet to confirm the impending action, a Bloomberg report seems to have gotten the gist from a reliable source within the company. The layoff could affect as much as 20 percent of Intel’s more than 113,000 employees.
Things have been looking quite gloomy in the PC sale market recently, and Intel, as an industry leader, is seeing the harsh realities firsthand. A Gartner analysis claimed that the worldwide shipments in the third quarter of 2022 were 68 million, marking a 19.5 decrease compared to the same period in 2021.
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“Back to school sales ended with disappointing results despite massive promotions and price drops, due to a lack of need as many consumers had purchased new PCs in the last two years. On the business side, geopolitical and economic uncertainties led to more selective IT spending, and PCs were not at the top of the priority list,” Gartner director analyst Mikako Kitagawa had said.
During its second-quarter earnings call, Intel also mentioned that it was facing tough times, which could warrant additional actions besides lowering its core expenses. It said that its chip sales dropped by 25 percent in Q2 2022, and it lost $500 million in profit in the space of three months.
It appears that cutting the number of jobs at the company is one of the moves the computer giant is exploring as the year ends.
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