toggle

AAPL Stock: 109.27 ( -1.1 )

Printed from http://www.macnn.com

Report: Intel firing five percent of workforce in refocusing effort

updated 04:20 pm EST, Fri January 17, 2014

Unclear what amount of the expected losses will come from attrition

Following Intel's no-growth financial result posting yesterday, Intel is planning on cutting about five percent of its worldwide workforce in an effort to prioritize growth sectors and reduce costs. On its quarterly investor conference call, Chief Financial Officer Stacy Rasgon hinted at an employee reduction this year and said that Intel would increase focus in areas such as mobile chips and tablets.

"This is part of aligning our human resources to meet business needs," Intel spokesman Chris Kraeuter told Reuters on Friday. Intel's business has suffered at the hands of the migration to mobile, and the advent of the modern tablet, heralded by Apple's iPad.

Intel currently has approximately 107,000 employees worldwide. Some of the five percent cut will come from normal attrition, but some employees will still need to be cut to make the company's layoff target.




by MacNN Staff

POST TOOLS:

TAGS :

toggle

Comments

Login Here

Not a member of the MacNN forums? Register now for free.

toggle

Network Headlines

Follow us on Facebook

toggle

Most Popular

Advertisement

Recent Reviews

Blue Yeti Studio

Despite being very familiar with Blue Microphones' lower-end products -- we've long recommended the company's Snowball line of mics ...

ZTE Spro 2 Smart Projector

Home theaters are becoming more and more accessible these days, but maybe you've been a bit wary about buying a home projector. And h ...

MSI Geforce GTX 970 100ME

When Nvidia announced a new line of video cards in September 2014, many people thought things would continue to be business as usual i ...

toggle

Most Commented