© Business | January 20, 2014

Intel to reduce its workforce by 5%

Chip-giant Intel is planning to reduce its headcount by 5%, which means that more than 5000 employees could loose their jobs.
The information comes just after the company's fourth quarter fiscal report, where the company announces lower-than-expected earnings.

Intel spokesman Chris Kraeuter, told Re/code that the company expects to have reduced its workforce by 5% by the end of 2014.

But according to Chris Kraeuter, this are not actual layoffs. The reductions can take a variety or forms. He mentions that it could include redeployments, voluntary programs, retirements, etc. the report continues.

As the company is realigning and refocusing its resources to meet the needs of the business, the different business groups are in the midst of planning how to reduce costs, which will include some employee reductions, the report continues.

Intel has been adjusting itself to respond to the fast growing mobile-tech market. During a pre-show keynote for CES 2014, Intel CEO Brian Krzanich, outlined a range of products, initiatives and strategic relationships aimed at accelerating innovation across a mobile and wearable devices.
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