Today's Hard|Forum Post
Today's Hard|Forum Post

Tuesday April 19, 2016

Intel Announces Restructuring Initiative, Cutting 12,000 Jobs

Intel just announced that it is laying off 12,000 employees globally by mid-2017. In an email to employees, Intel's CEO Brian Krzanich said the company is evolving from being a PC company to a more efficient company that powers the cloud, IoT, and billions of smart, connected computing devices.

Intel Corporation today announced a restructuring initiative to accelerate its evolution from a PC company to one that powers the cloud and billions of smart, connected computing devices. Intel will intensify its focus in high-growth areas where it is positioned for long-term leadership, customer value and growth, while making the company more efficient and profitable. The data center and Internet of Things (IoT) businesses are Intel’s primary growth engines, with memory and field programmable gate arrays (FPGAs) accelerating these opportunities آ– fueling a virtuous cycle of growth for the company. These growth businesses delivered $2.2 billion in revenue growth last year, and made up 40 percent of revenue and the majority of operating profit, which largely offset the decline in the PC market segment.