SAN FRANCISCO (AP) — Intel says it will cut 12,000 jobs — about 11 percent of its workforce — as it reorganizes to confront a decline in sales of personal computers.
The chipmaker said the cuts will include “voluntary and involuntary departures” from its operations around the world. Most of the affected workers will be notified in the next 60 days.READ MORE: Pack Of Unleashed Cane Corso Mastiff Dogs Attack Residents In Tarzana Neighborhood
Intel said the cuts will provide about $1.4 billion in annual savings by the time the cuts are completed next year.READ MORE: Thousands Crowded Streets, Overpasses As Procession Carried Remains Of Marine Lance Cpl. Dylan Merola To Final Resting Place
The company, based in Santa Clara, California, is a leading supplier of computer chips, but PC sales have been declining steadily in recent years. It’s trying to focus on its most profitable lines of business, which include making processors for data center computers and Internet-connected gadgets.MORE NEWS: LA City Councilman, Kevin De Leon, Enters LA Mayoral Race
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