Intel to Cut 12,000 Jobs as PC Demand Slumps

April 19, 2016 8:33 PM

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Intel to Cut 12,000 Jobs as PC Demand Slumps

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.

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