Intel to lay off 11% of workforce

April 19, 2016 8:17 PM

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SAN FRANCISCO — Intel will lay off 11% of its global workforce, up to 12,000 employees, as part of a restructuring initiative, the company said Tuesday.

The Santa Clara, Calif.-based chip maker said the restructuring would accelerate its evolution from a PC company to one focused on cloud computing and connected devices.

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