Intel to Lay Off as Many as 12000 Employees
In what looks like a major reshuffling of priorities, Intel is to lay off as many as 12000 of its employees from all across the globe.
Every time we are hit by news regarding job cuts, it is an alarming situation for one reason or another. Either it is because the company is having a rough patch or it is an alarming situation due to the future of the thousands of employees being let go.
However, in the case of Intel it does not appear to be a reaction to financial problems and/ or performance related issues.
Although 12000 is as many as 11 percent of its total workforce, they have had to face this due to their lack of transitioning alongside the rest of the industry. When most of the big names were moving towards smartphone business, Intel stuck with chip making for the most part and that has probably resulted in the bundled effect we are seeing today.
Needless to say, this is their largest restructuring in terms of number of employees being moved. The restructuring was announced yesterday when the financial results for the first quarter were being shared.
The company CEO Brian Krzanich says that he is not taking the changes “lightly” and that they were necessary layoffs that are now going to save them money where it could have been saved and also allow them to invest in growing businesses.
These job cuts will bring the workforce of Intel below 100,000 down from their largest employee numbers to date.