Intel Q1 Results Revealed – 12,000 Job Cuts Planned




/ 9 years ago

Intel Q1 Results Revealed - 12,000 Job Cuts PlannedThree days ago, word came out from Intel about a series of massive layoffs in the works. Today, Intel has officially revealed just how deep the cuts are going to be and they are deep. Around 11% of their global workforce of nearly 107,000 workers will be let go in either voluntary or involuntary layoffs. This means as many as 12,000 employees of Intel may soon be entering the job market.

The cuts are set to be part of the transition from being a “PC company to one that powers the cloud and billions of smart, connected computing devices”. This change comes as the PC business continues of soften and 40% of company revenue have come from the data center and Internet of Things segments. Compared to Q1 2015, Q1 2016 was slightly worse, with a 1.2% drop in gross margins though revenue was up 7%.

Platform sales volume (processors and chipsets) fell 15% but revenue was up 19% due to the higher selling prices. We can all see that with how much Skylake cost compared to Haswell. overall, the costs of restructuring will come to $1.2 billion, but Intel expects to save $750 million in 2017 and $1.4 billion every year after that. It will be interesting to see where most of the cuts land and if they will impact the fabs and R&D budgets.


Topics: , , , ,

Support eTeknix.com

By supporting eTeknix, you help us grow and continue to bring you the latest newsreviews, and competitions. Follow us on FacebookTwitter and Instagram to keep up with the latest technology news, reviews and more. Share your favourite articles, chat with the team and more. Also check out eTeknix YouTube, where you'll find our latest video reviews, event coverage and features in 4K!

Looking for more exciting features on the latest technology? Check out our What We Know So Far section or our Fun Reads for some interesting original features.

eTeknix Facebook eTeknix Twitter eTeknix Instagram eTeknix Instagram
  • Be Social With eTeknix

    Facebook Twitter YouTube Instagram Reddit RSS Discord Patreon TikTok Twitch
  • Features


Send this to a friend
})