Intel Cutting 12,000 Jobs, 11 Percent of Workforce

April 19, 2016 8:52 PM

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Shares of Intel fell nearly 3 percent after the bell Tuesday as it announced it would cut 12,000 jobs, or 11 percent of its workforce, by 2017 due to restructuring.

The technology company also said the chief financial officer Stacy Smith would leave that role to lead sales.

Also read: Carl Icahn buys stake in software provider VMware: CNBC

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