SAN FRANCISCO — Intel, the world’s largest maker of semiconductors, said on Tuesday that it was laying off 12,000 people, about 11 percent of its work force, as it continues to reel from a long downturn in global demand for personal computers.
The company’s chief executive, Brian Krzanich, announced the layoffs as part of a larger corporate restructuring, which will result in a $1.2 billion charge. Intel also reported lower-than-expected first-quarter earnings and reduced its projected revenue for the year.
16:36 AT&T, Time Warner poised to lobby lawmakers, regulators on proposed $85-billion merger14
12:23 Lockheed Martin's quarterly profit handily beats estimates13
11:41 Caterpillar earnings: 85 cents per share, vs expected EPS of 76 cents14
00:02 AT&T Aims for an Empire in Merger Talks With Time Warner11