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Report: Intel to cut thousands of jobs

The company is reportedly about to lay off thousands of employees, according to the The Oregonian. Per unnamed inside sources, Intel plans to make sweeping cuts that will exceed even the hefty 1,100 layoffs that it issued last year. 

The Oregonian writes:

The cutbacks will reduce employment in some parts of the business by double-digit percentages, according to Intel insiders, amounting to thousands of job cuts across the company by the end of the year. The planned downsizing could begin soon after Intel reports its first-quarter financial results Tuesday, though sources say timing and specifics remain fluid.

This follows news from earlier this week that Intel is working to better streamline its teams to deal with what the company called a “competitiveness gap.”CGW