Intel Hits Panic Button Before It's Too Late

This is what it looks like when a tech company doesn't make the Evel Knievel jump across the canyon.

Intel announced on Tuesday that it would cut 12,000 jobs, or 11 percent of its workforce. Companies with $11.5 billion in profit over the last 12 months don't tend to be the ones that fire the equivalent of Facebook's entire workforce. Avon Products, a company whose revenue have been cut nearly in half since 2013, slashes jobs. The company formerly known as Hewlett-Packard, with declining profits and falling revenue for three years, is the type to sharply cut its workforce.