News Column

Intel to cut 5% of workforce over zero revenue growth estimates for 2014

January 18, 2014


London , Jan. 18 ( ANI ): Intel has reportedly announced its plans of slashing its workforce by 5 percent, as it expects no revenue growth for 2014. The computer chip maker said that it would reduce it would reduce its global workforce of 107,000. According to the BBC , a company spokesman, Chris Kraeuter said that reducing Intel's staff is part of aligning their human resources to meet business needs. The announcement comes amidst the continued drop in sales of personal computers (PCs) that has been hurting chip making business. The report said that revenues at Intel's division, which makes chips for desktop computers, fell 4 percent in 2013, from a year ago. However, in its latest earnings, Intel revealed that its PC chip division generated revenues of 8.6 billion dollars in the October-to-December quarter of 2013, compared with 8.5 billion dollars a year ago. The report added that for the full year 2013, Intel saw a net profit of 9.6billion dollars , down 13 percent from a year ago. ( ANI )

For more stories on investments and markets, please see HispanicBusiness' Finance Channel

Source: Asian News International

Story Tools