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Intel to cut jobs in the wake of declining PC sales
Posted on: 20/Apr/2016 5:13:56 PM
Intel Corp has announced that up to 12,000 jobs will be cut globally. This roughly works up to 11 percent of its workforce. The company has said that it will refocus its business towards making microchips and Internet connected devices. It will stay away from the personal computer industry as sales have been rapidly declining.
Tech research company IDC has said that global personal computer shipments fell 11.5 per cent in the first quarter. Other companies including Hewlett Packard Co. and Microsoft Corp have also reorganised its PC business.
Intel is the world`s largest chipmaker. It has lowered its revenue forecast for the year, and has said that it expects revenue to rise in the mid single digits. Previous forecasts have been a rise of mid to high single digits.
Senior executives at Intel said, Intel now expects the PC market to decline by a percentage in the high single digits in 2016 versus a prior forecast of a mid single-digit decline. Declines in China and other emerging markets are also leading to greater than anticipated reductions in worldwide PC supply chain inventory.
Experts say, PC demand, at least in the eyes of Intel, is expected to be weaker than the industry originally anticipated. Although the industry has already seen some of the weakness experienced by Intel, the company`s comments dashed any hope of recovery.
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