Intel is planning to come up with the best solutions on how to deal with the emploment issues as a huge layoffs is affecting a thousands of jobs
The layoffs are a result of declining demand for the company’s consumer chips, which is part of a larger downturn in the PC market.
According to Bloomberg, the layoffs will disproportionately affect Intel’s sales and marketing teams, affecting approximately 20% of team members.
The layoffs are expected to be announced “as early as this month,” around the time Intel releases its third-quarter earnings report on October 27th. The company currently employs 113,700 people.
The PC market is struggling after two years of booming sales during the pandemic. According to Gartner, worldwide shipments totaled 68 million units in the third quarter of 2022, a 19.5 percent decrease from the same period in 2021.
According to Gartner, this is the steepest market decline since the company began tracking the market in the mid-1990s.
In a press release, Gartner director analyst Mikako Kitagawa stated, “This quarter’s results could mark a historic slowdown for the PC market.
” “Despite massive promotions and price drops, back-to-school sales ended with disappointing results due to a lack of need, as many consumers had purchased new PCs in the previous two years.
.” On the business side, geopolitical and economic uncertainty led to more selective IT spending, with PCs not ranking high on the priority list.”