Intel plans to make targeted layoffs in November this year

October 21 news, according to foreign media reports, Intel plans to make targeted layoffs in November this year.

After the close on Thursday local time, according to foreign media reports, Intel Chief Executive Officer (CEO) Pat Gelsinger spoke to employees by video, promising to release more details on November 1.

Last week, people familiar with the matter said Intel could cut thousands of jobs to cut costs because of falling demand for personal computers (PC). The layoffs will be announced as early as this month. Among them, some departments, such as sales and marketing, may cut jobs by about 20%.

Foreign media said that Intel's layoffs coincided with a sharp drop in PC demand leading to a sharp drop in revenue and Intel's attempt to return to the forefront of chip manufacturing.

It is reported that this is not Intel's first large-scale layoffs. The company made two rounds of massive layoffs in 2015 and 2016, cutting a total of 13000 jobs. At the time, the company restructured to prepare for a long-term decline in its PC business.

According to foreign media reports, Intel is scheduled to announce its results after the stock market closes on October 27.