Intel rumours hint at 20,000 layoffs
Fifth of workforce under threat
Intel is said to be preparing to axe up to 20,000 jobs as early as this week, according to a report in The Wall Street Journal.
The projected lay-off figure is based on anonymous sources and analyst expectations. Intel currently employs about 100,000 workers.
Intel is facing a decline in market share, revenues and profit. The chipmaker said earlier this year that it is preparing a major reorganisation that seeks to cut costs in excess of $1bn annually.
The firm fired 1,000 managers in July in an attempt to address "slow and ineffective decision making", and spun off its communications and application processor businesses.
Intel has aggressively slashed prices for its existing products and is speeding up development of its next-generation processors as it attempts to win back market share from AMD.
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