Intel To Slash 5,000 Jobs; 5 Percent Of Workforce

SANTA CLARA (AP) — Intel plans to trim more than 5,000 jobs from its workforce this year in an effort to boost its earnings amid waning demand for its personal computer chips.

The Santa Clara company confirmed the job cuts Friday, the day after Intel Corp. reported its profit and revenue had fallen for the second consecutive year.

The purge represents about 5 percent of the nearly 108,000 jobs that Intel had on its payroll at the end of December. An Intel spokesman says the company intends to jettison the jobs without laying off workers.

Intel’s financial performance has been slumping because the company didn’t adapt quickly enough as the growing popularity of smartphones and tablet computers undercut sales of PCs running on its chips. Most mobile devices don’t run on Intel’s processors.

© Copyright 2014 The Associated Press. All Rights Reserved. This material may not be published, broadcast, rewritten or redistributed.



One Comment

Leave a Reply

Fill in your details below or click an icon to log in:

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

More From CBS San Francisco

Get The New CBS SF Bay Area Local App
Got Our Weather App?

Listen Live