Intel Culls 12,000 Jobs As PC Sales Slide Even More

Microchip manufacturer Intel is cutting 12,000 jobs as part of a restructuring effort to shift the company away from making personal computer parts.
The layoffs, which will affect 11 percent of the company's global workforce, come as the company posted a better-than-expected earnings report. Intel CEO Brian Krzanich says the move is about both cutting costs and reinvesting in growing the business.
Intel's new plan is to focus on making hardware for data centers and smart devices at the expense of its PC manufacturing arm. Global PC sales across all companies slid about 10 percent this quarter, the sixth consecutive decline.
Intel staffing has been hovering around record high levels for several months at about 107,000 people. The company says it expects to generate $750 million in savings in 2016 from the downsizing.
This video includes images from Getty Images.
Newsy is your source for concise, unbiased video news and analysis covering the top stories from around the world. With persistent curiosity and no agenda, we strive to fuel meaningful conversations by highlighting multiple sides of every story. Newsy delivers the news and perspective you need without the hype and bias common to many news sources.
See more at www.newsy.com/
Like Newsy on Facebook: / newsyvideos

[@paultremblay4836]

Time for more VR and mobile

[@mookixox]

+Alberto Humova Time for America to pretend 12,000 Restaurant Jobs were magically created!

[@mookixox]

***** Which would explain the rise in food stamp users...rise in student loan defaults...drop in Americans buying or building houses and the mortgage defaults. Yep, those new jobs actually exist /S

[@mookixox]

***** You can pretend to create 2 BILLION jobs, wont mean anything if there are no jobs that really exist...