BREAKING NEWS

Intel plans to cut thousands of jobs hit by PC slowdown - report

Chipmaker Intel Corp INTC.O is planning a major reduction in headcount, likely numbering in the thousands, in the face of a slowdown in the personal computer market, Bloomberg News reported on Tuesday, citing people with knowledge of the situation.

The layoffs will be announced as early as this month and some of Intel's divisions, including the sales and marketing group, could see cuts affecting about 20% of staff, according to the report.

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