Skip to main content
Tags: intel | lays | off | 12000 | workers

Intel to Cut 12,000 Jobs Globally, CFO to Move to New Role

Tuesday, 19 April 2016 04:33 PM EDT

ntel Corp said it would cut 12,000 jobs globally, or 11 percent of its workforce, as the company moves away from its traditional business of selling chips used in personal computers.

The company also said on Tuesday Chief Financial Officer Stacy Smith will move to a new role leading sales, manufacturing and operations. Intel said it would begin a formal search process for a successor.

Intel's shares were down 2.5 percent in extended trading.

The company said it would record a pretax restructuring charge of $1.2 billion in the second quarter. (http://bit.ly/1WDPfBm)

On a per share basis, the company earned 42 cents per share, in the first quarter, up from 41 cents a year earlier.

Net revenue rose to $13.70 billion from $12.78 billion.


© 2025 Thomson/Reuters. All rights reserved.

Sign up for Newsmax’s Daily Newsletter

Receive breaking news and original analysis - sent right to your inbox.

(Optional for Local News)
Privacy: We never share your email address.

Newsfront
ntel Corp said it would cut 12,000 jobs globally, or 11 percent of its workforce, as the company moves away from its traditional business of selling chips used in personal computers. The company also said on Tuesday Chief Financial Officer Stacy Smith will move to a new...
intel, lays, off, 12000, workers
124
2016-33-19
Tuesday, 19 April 2016 04:33 PM
Newsmax Media, Inc.
Join the Newsmax Community
Read and Post Comments
Please review Community Guidelines before posting a comment.
 

Interest-Based Advertising | Do not sell or share my personal information

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

NEWSMAX.COM
America's News Page
© 2025 Newsmax Media, Inc.
All Rights Reserved
Download the Newsmax App
NEWSMAX.COM
America's News Page
© 2025 Newsmax Media, Inc.
All Rights Reserved