Intel's Krzanich Cuts 12,000 Jobs in Push to Ease PC Dependence
- CEO seeks new growth areas as PC market shows no signs of life
- Workforce reduction is chipmaker's biggest in a decade
Intel Cuts 12,000 Jobs Amid Tech's Oversupply Problems
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Intel Corp. Chief Executive Officer Brian Krzanich is eliminating 12,000 jobs -- the chipmaker’s deepest cutbacks in a decade -- taking his most radical step yet to move Intel into new businesses and ease its dependence on the shrinking personal-computer market.
The world’s biggest semiconductor company said it’s shifting focus to higher-growth areas, such as chips for data center machines and Internet-connected devices, which so far aren’t contributing enough to make up for the decline in PCs. Intel posted disappointing first-quarter revenue and gave a second-quarter sales forecast that fell short of analysts’ estimates.