Tags: Intel | computer | technology | job cuts

Intel to Cut 12,000 Jobs Globally as PC Sales Face Pressure

Intel to Cut 12,000 Jobs Globally as PC Sales Face Pressure

Tuesday, 19 April 2016 04:42 PM

Intel Corp. said it would cut 12,000 jobs globally, or 11 percent of its workforce, as the company moves away from its traditional business of selling chips used in personal computers.

The company also said on Tuesday Chief Financial Officer Stacy Smith will move to a new role leading sales, manufacturing and operations. Intel said it would begin a formal search process for a successor.

Intel's shares were down 2.5 percent in extended trading.

The company said it would record a pretax restructuring charge of $1.2 billion in the second quarter.

On a per share basis, the company earned 42 cents per share, in the first quarter, up from 41 cents a year earlier.

Net revenue rose to $13.70 billion from $12.78 billion.

 

 

© 2019 Thomson/Reuters. All rights reserved.

   
1Like our page
2Share
StreetTalk
Intel Corp. said it would cut 12,000 jobs globally, or 11 percent of its workforce, as the company moves away from its traditional business of selling chips used in personal computers.
Intel, computer, technology, job cuts
123
2016-42-19
Tuesday, 19 April 2016 04:42 PM
Newsmax Media, Inc.
 

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

NEWSMAX.COM
MONEYNEWS.COM
© Newsmax Media, Inc.
All Rights Reserved