According to a report from Bloomberg, Intel Corporation may lay off thousands of workers ‘as early as this month’ amidst a tough financial year.
Intel Layoffs Plans?
Unidentified sources told Bloomberg that Intel could see up to 20% reductions in staff in its sales and marketing departments. Although, it wasn’t specified where exactly these will be done. The chip manufacturer is reported to have around 121,100 employees around the world.
Intel is scheduled to report its Q3 2022 earnings on October 27 and it is said that the layoffs are to happen around this time.
The last time the chip maker laid off a large number of its workers was back in April 2016 when it announced an 11% cut of its workforce which account for 12,000 jobs. This was done on the same day as its quarterly earnings report.
As for the Q3 2022 financial report, analysts expect earnings of 34 cents per share on revenue of USD 15.43 billion based on Intel’s previous forecast of 35 cents per share to USD 16 billion in sales. In comparison, the company reported earnings of USD 1.71 per share to sales of USD 19.19 billion in the same quarter of the previous year.
Source: Gadget Pilipinas
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