According to a report in Bloomberg, the global company Intel is planning to cut its workforce, probably thousands of employees, to deal with losses caused, among other things, by a retreat in the laptop market.
Apparently the layoffs will be announced already this month, at the same time as the publication of the company’s quarterly reports, scheduled for October 27.
● Layoffs at Intel’s artificial intelligence center in Caesarea
● Intel is determined to take out $3.5 billion from Mobile even when the IPO market falters
As of July, the company has over one hundred thousand employees, and is considered the largest employer in Israeli high-tech. In addition, it appears that layoffs in the trade and sales departments will reach up to 20%.
Intel, whose main activity deals with the manufacture of chips, lost a large market share to competitors, which it is having trouble regaining. The company announced that it expects a drop in revenue of 11 billion dollars for 2022, and according to analysts, the quarterly loss is expected to be about 13%.
stock Intel Has lost over 50% since the beginning of the year as part of a general weakness in the chip sector. According to the report in Bloomberg, the sale of personal computers decreased by 15% in the third quarter of 2022, relative to the corresponding quarter last year.