The company could cut thousands of jobs.
(Photo: Reuters)
According to a media report, the US chip manufacturer Intel is planning extensive staff cuts in view of the downturn in the computer market. The number of layoffs is likely to number in the thousands, Bloomberg reported on Tuesday, citing people familiar with the matter.
The layoffs are expected to be announced later this month. Some departments, such as sales or marketing, could face cuts of up to 20 percent of the workforce, the report said. According to Bloomberg, the company had 113,700 employees in July. Intel initially declined to comment on the job cuts.
The company lowered its full-year sales and earnings guidance in July after missing second-quarter estimates.
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