Chipmaker Intel is reportedly planning major layoffs, likely numbering in the thousands, in the face of a slowdown in the personal computer market.
The layoffs will be announced as early as this month and some Intel divisions, including the sales and marketing group, could be cut by up to 20 percent, reported on Tuesday, citing people with knowledge of the situation.
The company had 113,700 employees as of July, when it slashed its annual sales forecast by $11 billion after missing estimates for second-quarter results.
Intel, based in Santa Clara, California, declined to comment on the job cuts when reached by DailyMail.com on Wednesday.
Chipmaker Intel is reportedly planning major layoffs, likely numbering in the thousands, in the face of a slowdown in the personal computer market
Intel, the largest semiconductor chip manufacturer in the world by revenue, has fared relatively worse than the industry as a whole, with Intel shares down 52% so far this year
Intel has been battered by shifting market trends, including the decline of traditional personal computers as smartphones and tablets rise in popularity.
Last quarter, global PC shipments, including desktops and laptops, declined another 15 percent from a year ago, according to