Intel have announced they plan on laying off 11% of their entire workforce. This equates to 12,000 jobs.
The company stated the reasoning for the layoffs are due to reconstruction in the company. Intel wants to stir away from just PC company to one that focusing on Internet of Things (Cloud, smart devices).
Intel CEO Brian Krzanich stated in an open letter to employees..
“Our results demonstrate a strategy that’s working and a solid foundation for growth. Our opportunity now is to accelerate our momentum and build on our strengths. But this requires some difficult decisions. With that context, today we are announcing a restructuring initiative that will allow Intel to intensify our investments in the products and technologies that fuel our growth, and drive more profitable mobile and PC businesses.”