Computer business Intel, the largest global maker of microchips announced on Thursday a large number of job cuts according to the Financial Times. The reason for the major job cuts among its 100,000 employees is due to a fall of 56 percent in the second quarter of net profit. This loss can be directly attributed to the fact that the company cut prices in order to compete with fellow computer business AMD.
Around employees of computer business Intel lost jobs under a new global layoff plan. In just Malaysia, a newspaper noted that up to 2,000 workers at Intel would be offered the opportunity for voluntary layoffs. While some of these employees had already received offers, the official announcement came Tuesday.
When the entire worldwide layoff plan has been executed fully, the cuts could total up to 20,000. Analysts of the computer business stated that the company is in the process of adding greater efficiency to its organization and will report on the progress within the third quarter.
Blogged By: Computer Consulting 101 Professional Kit