Intel layoffs 2022

Intel cannot hold on anymore. The company plans to lay off employees, which may affect thousands of people, in order to reduce costs and cope with the shrinking demand for personal computers. Intel has 113,700 employees. Intel's sales and marketing departments may lay off about 20% of their employees. Intel's main PC processor business is facing a sharp decline in demand, and sales will be about $11 billion lower than previously expected. Wall Street analysts expect Intel's revenue to decline about 15%, and the company acknowledged that it may make changes to improve profit margins. We are also cutting core spending and will take additional actions.

Approximately 12,000 jobs, or 11% of the workforce, are affected. Intel halted hiring earlier this year as market conditions worsened. Gelsinger, who took the helm last year, has been trying to revive Intel. Even before demand for personal computers dropped, the job was tough. Bloomberg said that Intel has lost its long-term technological advantage, and executives admitted that the company's innovation culture has withered in recent years. Personal computer microprocessors were once Intel's most important business. Not only are PC shipments deteriorating and declining, but PCs are no longer being used. Otellini, who had no technical background, still turned Intel into a company selling servers.