Intel plans thousands of job cuts amid PC market slowdown - Bloomberg
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Intel (NASDAQ:INTC) is looking to eliminate thousands of jobs amid a slowdown in the personal computer market, Bloomberg News reported on Tuesday citing sources familiar with the matter.
The technology giant, which employed 113,700 employees as of July 2022, plans to announce the job cuts as early as October 2022. Some of Intel's (INTC) divisions, including the sales and marketing team, could see cuts affecting about 20% of staff, Bloomberg wrote.

The company declined to comment on the move.
Intel (INTC) lowered its annual sales and profit forecasts in July after falling short of estimates for second quarter results.
People are spending less on personal computers than they did during pandemic-related lockdowns as offices and schools reopen and inflation continues to escalate. Chipmakers are also under pressure due to the Ukraine conflict and COVID-19 curbs in key PC market China that have led to supply-chain concerns.
INTC shares were up 1.24% premarket