A disciple of God and suffers for our sins. According to the Worker Adjustment and Retraining Notification (WARN) notice, layoffs at Intel are set to be completed by January 31. 1125 N. Charles St, Baltimore, MD 21201. That day, Intels stock opened at around $25 per share. It found that American firms experienced abnormal returns of -1.78%, while Japanese firms had abnormal returns of -0.56%. Financial Market Data powered by FinancialContent Services, Inc. All rights reserved. Often, stock prices will rise in response to layoff announcements. The technology . Get the latest updates on cannabis legalization, politics and technology, as well as developments in medical and recreational marijuana news. According to IEEE Spectrum, "Intel Corp. today announced that it would cut some 12,000 jobs -- that's 11 percent of its total workforce -- by mid-2017, with the majority of those affected getting the bad news within the next two months. People now spend less on PCs than they did during the pandemic-related lockdowns due to decades-high inflation and the reopening of offices and schools. The layoffs, which are permanent, are scheduled to begin Jan. 31. Future US, Inc. Full 7th Floor, 130 West 42nd Street, According to the website Neowin, this includes at least a 5% pay cut companywide, suspension of bonuses, and a reduction in its 401(k) While it's certainly better than nothing for Windows users (an admittedly low bar), the overall ecosystem experience is nowhere near what Apple . Cash flow in the quarter was $89.5 million, or 23% of revenue, up from $48.3 million or 19% in the second quarter of fiscal 2022. Lot of rumors flying around, It seems Tower deal is unlikely to go through, Didnt intel purchase BTC back in 2017. readmore, Intel Axes Rialto Bridge GPUs, Delays Falcon Shores to 2025 With the chip market slowing down, Intel likely faces a situation where it planned for high levels of demand and staffed accordingly, only to find itself with too many workers for todays demand. Even with all the information, you can never be sure whether it will rise or fall and by how much. The news comes from "people with knowledge of the situation" so be cautious until it can be verified. Why Is Novavax (NVAX) Stock Up 12% Today? First word of Intels layoffs came on October 11th. Everyone knows Intel Corp. is in the midst of a painful transition from the PC era of computing to the cloud and Internet of Things era. The force reduction had been widely rumored in the media for several days. Oops! INTC stock is up less than 1% today on news of the latest job cuts. The decline in IT investment is affecting Intel's PC, data centre, and artificial intelligence businesses, which is hurting revenue and earnings. Other tech companies also saw major declines in sales during the summer, indicating that this is an industry-wide slowdown rather than one that only impacts Intel. We'll keep covering the latest in tech layoffs in our regularly updated resource on the topic, which tracks all the major developments across 2022 and 2023. In case you cant find any email from our side, please check the spam folder. and Amazon.com Inc. This is a subscriber only feature Subscribe Now to get daily updates on WhatsApp. 420 Intel is the leading source for cannabis news from around the world. Considering a significant portion of that 3 billion was made from layoffs - does that mean we're By, Intel,Cloud Computing,Hardware,Cloud Computing,Internet of Things (IoT), The Wisdom of Building Your IT Career Around Certifications, Analyzing the Business Risks of ChatGPT and Large Language Models, E-book: Making Hybrid Work Work with Microsoft 365, CompTIA Live Online Training: Your Questions Answered, CompTIA Helps Students Build Career Opportunities Early, Top 10 Challenges Facing Technology in 2023, Adding IPv6 support to Azure Active Directory - March 7, Erick Simpsons MSP Newsletter | February 2023 | Adjust Your Revenue Streams to Increase MSP Company Value at Exit, 10 Ways Conversational AI Can Improve How We Serve IT Professionals, How to Use the Facebook Ad Network to Get More Clients for Just $5 a Day, Latest Issue: ChannelPro SMB, February 2023, Survey Shows Phishing Attacks Are Up and Few Are Spared, Diversity and Inclusion Plan for Technology SMBs, ChannelPro 5 Minute Roundup for the Week of February 27th, 2023, ChannelPro 5 Minute Roundup for the Week of February 20th, 2023, ChannelPro 5 Minute Roundup for the Week of February 13th, 2023, ChannelPro 5 Minute Roundup for the Week of February 6th, 2023, ChannelPro 5 Minute Roundup for the Week of January 30th, 2023, ChannelPro 5 Minute Roundup for the Week of January 23rd, 2023, Cisco Underscores Commitment to SMB Market at 2022 Partner Summit, Pax8 to Offer Solutions from Amazon Web Services, Veeam Ships Unified Data Protection Platform, N-able Buys Cloud Management Vendor Spinpanel, Ingram Micro Launches Membership Program for Growth-Focused Cloud Partners, ChannelPro Weekly Podcast: Episode #236 - Cheerios Vs. Starvation. The reduction in headcount is a response to declining demand for the companys consumer chipspart of a wider downturn in the PC market. Earlier this week, Microsoft (NASDAQ:MSFT) announced that it is cutting 10,000 jobs. All rights reserved. / Sign up for Verge Deals to get deals on products we've tested sent to your inbox daily. Gartner says this is the steepest market decline its recorded since it began tracking the market in the mid-1990s. Nasdaq More pain might be ahead. In the meantime, he's hunting down the latest news on VPNs, POS systems, and the future of tech. In July of last year, Intel warned that its 2022 sales would be about $11 billion lower than previously forecast. This will negatively impact revenues across the chip industry (at least in most cases), and typically, these situations call for re-evaluation of cost and margins, said Gartner analyst Gaurav Gupta in an email to The Verge. The layoffs by Intel follow tens of thousands of job cuts announced by other tech giants recently, including Meta Platforms Inc. of which the company is a component, is down about 8% year to date, while the Nasdaq Composite Index On March 1, 2020, Shopify said it had more than 5,000 employees; as of Tuesday it said it has more than 10,000 without accounting for the layoffs. Whats the takeaway? The company is currently in the process of building a facility in Ohio, which it broke ground on earlier this year, and has committed at least $20 billion to the project. All rights reserved. No one dare question him irl. Will Be Even Bigger Than Your Wildest Expectation, 7 Over-$100 Stocks That Are Worth Every Penny, Louis Navellier and the InvestorPlace Research Staff, Michael Burry Is Betting Big on These 2 AI Stocks, 5 Investors Betting Big on Exela (XELA) Stock in 2023. readmore, https://www.youtube.com/watch?v=GSuTyOMq1Bg Should i be worried. All Rights Reserved, By submitting your email, you agree to our. Its a nice place to work with nice people, and a pretty nice culture that offers a nice variety of paths to grow yourself professionally, as well do nice things for your community through volunteerism. Lorem ipsum dolor sit amet, consectetur adipiscing elit. Everyone knows Intel Corp. is in the midst of a painful transition from the PC era of computing to the cloud and Internet of Things era. The new round of layoffs came on the heels of a Truelieve donation of an extra $5.5 million to a cannabis legalization . Opinions expressed by Forbes Contributors are their own. As early as October, several of Intel's businesses, especially the sales and marketing sector, may suffer layoffs affecting about 20% of the workforce, according to Bloomberg sources. Being taken for a ride by his staff This is Intels first major layoff since April 2016, when the company cut 12,000 jobs (roughly 11% of its workforce) on the day it announced its earnings. Adam is a writer at Tech.co and has worked as a tech writer, blogger and copy editor for more than a decade. I'm going to office for a meeting. Today, however, that pain became something more than metaphorical. The speculated layoffs could affect thousands of people across multiple divisions, according to Bloomberg's unknown source. 2023 InvestorPlace Media, LLC. Security News Zscaler Discloses Layoffs For 3 Percent Of Employees Kyle Alspach March 02, 2023, 05:52 PM EST. The Internet of Things group, for example, reported a four percent rise in revenues over the previous quarter and a 22 percent spike over last years Q1. Copyright HT Digital Streams Limited All rights reserved. At the same time, Intel says it is considering eliminating 343 jobs at its office in Sacramento, California. The cuts come as employees are bracing for layoffs across the company . Too many freeloaders, It is interesting that the strategy in the end is to fight everyone on all fronts, starting from behind in both technology and scale, and this is a winning strategy ? Are the rumors about yield issues true? Why Is Novavax (NVAX) Stock Up 12% Today? He's worked for the International Business Times, The Inquisitr, and Moneycontrol in the past. Predicting the future of a stocks price is a lot like looking into a crystal ball. ChannelPro Weekly Podcast: Episode #254 - Yeeeee Haawww! Does anyone within the manufacturing organization know what manufacturingis? Predict the closing value of sensex and win free subscription. Copyright 2022 HT Digital Streams Ltd All Right Reserved, Fake customer care numbers are thriving in India. The semiconductor company is cutting jobs at its head office in Silicon Valley. You can learn all about that at the following links! Today, however, that pain became something more than metaphorical. Nasdaq 2023 Vox Media, LLC. NY 10036. Intel employs 121,000 people, so laying off thousands of workers means cutting multiple percent of the businesss staff. Intel Filed WARN Notice in CA for 833 Layoffs, Work from office may solve performance issues, A good read for the peasants as more famine is coming, Intel releases software platform for quantum computing developers, Pat keeps saying Intel's AI performance is 10X the competition, Where is the extra cost saving coming from, https://www.businesspost.ie/news/intels-global-ceo-to-visit-ireland-for-meeting-with-leixlip-staff-over-challenging-times/. Azure Skynet Solutions Pvt. These days its not a matter of if youll be targeted in a phishing attack but when. Intel Layoffs 2022: What to Know About INTC Job Cuts, Hiring Freeze. Also, M&A expert Matt Poirier arrived in May 2022. In. about usadvertisecontact ussubscribe to newslettersreview policyccpa: do not sell my personal infoprivacy policycookie policy. The charter was nice when we could freely use Over the last 12 months, the companys share price has declined 45% to trade at $28.42. Comparing the third quarter to the previous year, PC sales fell 15%. The job cuts at Intel have the companys stock up slightly today as investors view the cost-cutting move as a positive development. The cuts come after the cybersecurity vendor's headcount surged over the past 18 . Sep 2022 - Dec 20224 months. The rest of the cuts will come from the company's Folsom location, a research and development campus, and are set to take place in two rounds, with one coming this month and another in March. The letters Intel filed with the state did not specify the positions that were cut, but the Folsom campus is dedicated to research and development. The company is expected to announce its decision late this month. TMG qualifications for operations; what are they? Intel heavily depends on PC sales. Same thing that always happens: competitive against higher-end GPUs by AMD and Nvidia, PC GPU Shipments Drop 35% Year-over-Year in Q4 2022: Report, AMDs Ryzen 7 5800X3D Is $299: Real Deals, 2TB WD Black Drives Drop as Low as $112 Each in Two-Pack Sale, Raspberry Pi Helps TRS-80 Model 102 Deploy Kubernetes, AMD Ryzen 9 7950X3D Review: AMD Retakes Gaming Crown with 3D V-Cache. The report comes from Bloomberg, citing people familiar with the situation, but Intel has not publicly commented on its plans yet. The layoffs aren't going to be pleasant, but they're a sign that Intel's management is doing what's needed to turn the company around and rebuild confidence in INTC stock investors. Whats our next move? Voluntary time-off programs allow us an opportunity to reduce short term costs.. readmore, AMD's Ryzen 7000 chips have been selling at retail with steep discounts for months, making them a bit more competitive. Subscribe Now to the ChannelPro monthly magazine! Updated Feb 28, 2023, 1:55pm PST. Written by Adam. Recent analysis from Gartner found that worldwide shipments totaled 68 million units in the third quarter of 2022 a 19.5 percent decrease compared to 2021. Rupert Murdoch's media company said the tough macroeconomic . In Northern California, where Silicon Valley is based, the job cuts are likely to have a negative impact on local and regional economies. 2023 Vox Media, LLC. Reports indicate that the worst-impacted parts of the business, including sales and marketing, could see as much as 20% of workers laid off in these departments. Tech Layoff Wave Continues: Intel Is Cutting Hundreds of Jobs Intel aims to slash $3 billion from its annual budget in this year, after revenues dipped by about 20% in 2022. All trademarks, logos, and copyrights are property of their respective owners. News Corp will cut about 1,250 positions, or 5% of its workforce, in the latest round of layoffs. What are you prepared to sacrifice for Intel. After two years of booming sales during the pandemic, the PC market is now struggling. You may opt-out by. The greatest impacts will likely occur in the sales and marketing departments. Intel job cuts to affect 20% workforce; layoffs start in October 2022: Report 1 min read . We're so happy you liked! INTC stock is down 2.7% as of Wednesday afternoon and down 47.9% since the start of the year. So far, Intel has primarily produced semiconductors that it has created. The cloud-focused data center group, meanwhile, despite a seven percent sequential quarterly revenue dip, experienced a nine percent gain over Q1 of 2015. Intel still has to finalize how many people it plans to layoff, but numbers are expected to be in thousands, Bloomberg reports. Intel has confirmed it will cut 544 job positions in California. Shedding workers, he continued, will enable Intel to invest more intensively in opportunities that will fuel its growth going forward, including not just the data center and Internet of Things markets but memory and connectivity technologies and hot client computing segments like 2-in-1s, gaming, and home gateways. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com, 5 Hypergrowth Stocks With 10X Potential in 2023, Redfin Layoffs 2022: RDFN Stock Sinks as Redfin Cuts 13% of Workforce, Lucid (LCID) Stock Tumbles as Car Reservations Drop, Mullen (MULN) Stock Revs Higher on Newgate Motor Deal, Robert Bollinger: Meet the Man Behind Mullens Push Into Commercial EVs, A.I. What remains to be seen is whether Intel's layoffs will affect any of the company's ongoing projects, such as development of discrete graphics processors for PCs that are hardly competitive against higher-end GPUs by AMD and Nvidia. However, in the long term, layoffs tend to lead to decreases in stock prices. COMP, In all, Intel says, emerging product units contributed $2.2 billion in revenue growth last year, as well as 40 percent of corporate revenue and a majority of the companys profits. Last fall, Intel announced thousands of job cuts in an effort to cut costs and cope with slowing sales of personal computers that use its semiconductors and microchips. Also Read: What is burn-out, which Meesho plans to fight with 11-day break for employees? Amazon.com Inc. is pausing construction on its sprawling second headquarters near Washington, a decision that coincides with the company's deepest ever job cuts and a . sent to the state Employment Development Department, the company is laying off 111 employees in Folsom, Calif., and 90 employees in Santa Clara, Calif., which is home to the chipmakers headquarters. You are just one step away from creating your watchlist! The cuts will reportedly be announced as early as this month, around the same time as Intels third-quarter earnings report on October 27th. Intel Unison is a work in progress at this point. ChannelPro Weekly Podcast: Episode #252 - High Jerk Tolerance, ChannelPro 5 Minute Roundup for the Week of May 30th, 2022, How to Succeed at Being an Inclusive Leader, Fujitsu fi-8170 Scanner: Speedy, High Quality with Control, Jabra PanaCast 20: Overriding Intelligence, Zyxel MG-108 2.5GbE 8-Port Unmanaged Switch. New York, The company said then its consumer chip sales had shrunk by 25 percent while overall revenue declined 22 percent. The company will likely see sales and marketing jobs cut. Intel is planning substantial job cuts, likely numbering in the thousands, according to a report from Bloomberg News. Nov 29, 2022 Listen to this article 4 min Chip giant Intel Corp has started the layoffs CEO Pat Gelsinger has been alluding to for weeks. Theres even room for more lines. Montreal, Quebec, Canada. $0 Per Issue Because it's FREE to Channel Pros! They want to save 8-10 billion total by 2024 (or maybe it was 2025 I forget) Heres how it works. A paper published in the Strategic Management Journal analyzed stock prices of American and Japanese companies at and after they announced layoffs. The company cut its year sales and profit goals in July after its second-quarter performance fell short of expectations. As it turns out, declines of PC sales were steeper than expected and probably the delay of the company's 4th Generation Xeon Scalable 'Sapphire Rapids' data center platform played its role, so Intel needs to adjust its costs beyond reduction of CapEx. Financial Market Data powered by FinancialContent Services, Inc. All rights reserved. Layoffs leave people without jobs, forcing them to find new sources of income. The layoffs will hit Intels sales and marketing teams particularly hard, says Bloomberg, affecting around 20 percent of team members. Separately, Intel is also eyeing the elimination of 343 jobs . Layoffs are generally a bad sign for a company financially, but that doesnt necessarily mean theyre always detrimental to stock prices. You need these four skills, as per Tim Cook. Erick and Rich discuss why ConnectWises new ChatGPT-based automation technology is important, the right and wrong ways to think about MSP valuations, and a 6-year-old who ordered $1,000 of food on Grubhub from his dads phone. Feb 28, 2023. The layoffs are partly due to incredibly diminished demand for computers (and chips, by extension, Intel's core product line). Also Read: Show me the salary: Why youngsters are posting their salaries online. Intel Business Challenges. I have a feeling it's the latter based on Investors looking for more of the latest stock market news are in luck! Lot of dead weight and management silos. Intel is one of the world's leading, largest and highest valued semiconductor chip makers. Intel is the latest technology giant to announce layoffs in recent weeks. Like did you're projects got cancelled abruptly, manager started acting weird, sympathetic mails from BU leaders etc ? Taiwan Semiconductor Manufacturing Co. Ltd. Indeed, Intel hired former VMware CEO Pat Gelsinger in 2021 to shake up the slumping hardware company. Proportionately, employees in their 50s were three times more likely to lose their jobs than workers in their 30s, according to a document obtained by The Oregonian/OregonLive that tallies every Intel employee in the United States. Back to school sales ended with disappointing results despite massive promotions and price drops, due to a lack of need as many consumers had purchased new PCs in the last two years. In response to a slowdown in the personal computer industry, Intel is considering a significant decrease in staff, possibly numbering in the thousands, according to a report by Bloomberg News on October 11. Visit a quote page and your recently viewed tickers will be displayed here. That changes today as AMD officially launches Intel said it is laying off 201 workers at its headquarters in Santa Clara, California. You are now subscribed to our newsletters. The job cuts are likely just the opening salvo as the Santa . Anton Shilov is a Freelance News Writer at Toms Hardware US. I never read or heard of them selling. See: It was not sustainable or real: Tech layoffs approach Great Recession levels. And they are typically viewed as a sign of distress for a company, with the perception being that the business is trying to save money that it cant afford to spend on staff. Intel to possibly cut workforce later this month. Funny thing is when I took Intel off of my resume and LinkedIn account, that's when I got callbacks, interviews, and finally a new job. Intel is expected to officially announce these layoffs in November. In recent years the company culture of innovation and research has reduced as compared to earlier periods. We live in purgatory: My wife has a multimillion-dollar trust fund, but my mother-in-law controls it. We're sorry this article didn't help you today we welcome feedback, so if there's any way you feel we could improve our content, please email us at contact@tech.co. Google employees aren't satisfied with their company's layoffs, either. The global data center CPU markets revenue declined 4.4% YoY in 2022. Thursday has brought even more layoff news. Good luck to any others trying to make a change in your work life. Intelligent engineers already jumped ship from here. What Will New Tax Laws Mean For Your Business? Intel spokeswoman Addy Burr confirmed Tuesday that the company is offering voluntary time off to its manufacturing employees around the world. Intel Corp. plans to lay off dozens of Northern California employees in early 2023, including more than 100 at its large Folsom campus . The speculated layoffs could affect thousands of people across multiple divisions, according to Bloomberg's unknown source. Out over his skis AMD registered a 62% YoY growth in its data center CPU revenue to hold a 20% market All rights reserved. readmore, You can see the WARN notice for yourself with some of the details like number of layoffs by location and notice date, the filing date and the effective dates. After . If the layoff only impacts a percentage of the company and allows the business to keep operating according to current demand, it could be the best thing for the company to do to ensure future profitability. Not again! Q.ai takes the guesswork out of investing. Other potential reasons behind the industry-wide push for job cuts might include getting rid of low performers, chilling a stronger-than-average labor market to induce more compliance from employees, or simply further boosting already-large profits and the C-suite bonuses that come with them. The latest job cuts follow thousands of positions that were eliminated at Intel last fall. Ltd in association with ELAN & NVISION - IIT, Hyderabad. 1125 N. Charles St, Baltimore, MD 21201. Levi Sumagaysay is a senior reporter at MarketWatch in San Francisco. It doesn't matter if you've been employed or not while searching, I'm interested in the longest period it took you to receive a serious offer you were willing to accept. In a statement distributed to staff on October 11, Intel CEO Pat Gelsinger outlined intentions for building an internal foundry model for the company's product lines and external clients. Are dot processes counted in the 5 nodes ? Zscaler had $1.9 billion in cash and equivalents on hand, up from . Erick and Rich discuss why news from Nerdio and Microsoft made this a big week in cloud management, why its never too soon to get rid of a toxic employee, and why getting a victory tattoo of your favorite team BEFORE the big game can be a bad idea. Prays to the lord, his only master. The chipmaker will cut about 11 percent of if its payroll as it transitions from a PC-dependent company to one focused on cloud computing and the Internet of Things. Copy cat behavior by tech companies in layoffs. Intel has already reportedly frozen hiring to keep its numbers from growing as PC demand wanes. Channel news and insights delivered to your inbox: Subscribe to ChannelPro e-Newsletters! Over the past couple of decades, he has covered everything from CPUs and GPUs to supercomputers and from modern process technologies and latest fab tools to high-tech industry trends. William White 11/9/2022. By the end of 2025, the company hopes to have cut its costs by $8 to $10 billion a year. We earn $400,000 and spend beyond our means. Intel stock has declined almost 45% this year. Gelsinger is taking steps to rewind the company's reputation as a legend of silicon valley. A more general slowness is now making those difficulties worse. The announcement comes after reports that Intel is planning on cutting thousands of jobs. +2.77 +3.01%. Sounak Mukhopadhyay, who also goes by the name Sounak Mukherjee, has been producing digital news since 2012. Since late 2022, a number of chip companies around the world have reined in investments. Product units more associated with Intels future than its past had stronger numbers to share. https://www.tomshardware.com/news/intel-axes-rialto-bridge-gpus-delays-falcon-shores-to-2025, https://www.gsb.stanford.edu/insights/why-copycat-layoffs-wont-help-tech-companies-or-their-employees, Insane folks who ask Intel to get into the business of fair or unfair laws (by one viewpoint) made by other countries. According to its annual report released in April, Intel made 172 hires in Rio Rancho in 2021, 63% of which were New Mexico residents. Intel Corporation plans to lay off approximately 200 employees in early 2023. Don't miss out on the top business tech news with Tech.co's weekly highlights reel. Just search for CA "Worker Adjustment and Several of Intel's businesses, especially the sales and marketing sector, may suffer layoffs affecting about 20% of the workforce. maybe it be AI GPU. According to a recent report out of . Doesnt give a f-k about anyone. Article printed from InvestorPlace Media, https://investorplace.com/2022/11/intel-layoffs-2022-what-to-know-about-intc-job-cuts-hiring-freeze/. Apple is facing numerous challenges, but Morgan Stanley analyst says there are reasons to buy the stock. Intel has confirmed that it will lay off workers soon as part of its plan to cut billions of dollars in spending. Intel is facing a steep decline in demand for PC processors, its main business, and has struggled to win back market share lost to rivals like Advanced Micro Devices Inc. In recent years, Intel has been hiring personnel as it tried to change the fortunes of its key business units and entered new businesses. The move is being made as a . However, he suggested that Intel's intention to issue shares of its Mobileye self-driving technology company in an IPO may allay those worries. That means the company effectively doubled its . The entire ELT must be fired starting with the CEO, Salary reduction analysis from an investor, A tip for finding a new job outside of Intel, How to know you're the one to be layed off, Applied Materials Pattern-Shaping Technology, lets predict what will be reward part of "restore & reward". Shares of Intel (NASDAQ:INTC) stock are in focus today after the semiconductor manufacturer announced that it is cutting hundreds of jobs at its California office and indicated that more staff reductions are on the way. . All of the above. And, these may not be the last of the job cuts at Intel and other tech firms. According to letters Intel Last quarter Intel's Client Computing Group responsible for PCs commanded about50% of the company's revenue, so if Intel is bracing for a long decline of PC shipments, then management needs to react, which is why it is said to be cutting down its workforce. However, employee layoffs are a sign of growing problems within the tech sector and, more broadly, the U.S. economy. The Financial Balancing Act Of 2023: Prioritizing Sustainable Growth, 12 Essential Things To Know Before Leveraging Tax Equity Investments, 3 Emerging Trends In Silicon Valley's Unicorn Market, Three Ways To Shore Up Your Risk Management Practices, Q.ai - Powering a Personal Wealth Movement. Your session has expired, please login again. Download the Mint app and read premium stories. Intel says it will notify a majority of the employees who wont be along for the ride toward the future Intel is building for itself within the next 60 days. Microsoft's profits dipped slightly in the third quarter of 2022, but have been very strong for years, earning the company hundreds of billions in cash reserves alone. Intel (NASDAQ: INTC) layoffs are reportedly in the works as the company prepares to reduce its headcount due to slowing PC demand. If Microsoft didn't want to layoff workers, a poor economy wouldn't move the needle.
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