Following Intel's no-growth financial result posting yesterday, Intel is planning on cutting about five percent of its worldwide workforce in an effort to prioritize growth sectors and reduce costs. On its quarterly investor conference call, Chief Financial Officer Stacy Rasgon hinted at an employee reduction this year and said that Intel would increase focus in areas such as mobile chips and tablets.
"This is part of aligning our human resources to meet business needs," Intel spokesman Chris Kraeuter told Reuters on Friday. Intel's business has suffered at the hands of the migration to mobile, and the advent of the modern tablet, heralded by Apple's iPad.
Intel currently has approximately 107,000 employees worldwide. Some of the five percent cut will come from normal attrition, but some employees will still need to be cut to make the company's layoff target.