Intel has announced to lay off twelve thousand employees which is 11 percent of total employees of the firm. According to press release by company, these employees will laid off gradually in coming year.

Intel will be laying off twelve thousand employees

Intel is the biggest chipmaker of the World but now it is looking to rely less personal computers market due to its downfall. The release says “that Intel is a PC company that wants to excel in Cloud and to give life to billions of smart computer devices”. The company also said that Stacy Smith will now be the head of manufacturing and sales department in addition to Financial and CFO matters.

The company did not tell which employees will be laid off, however, most of the company’s manufacturing plants are in America. The analyst, Stefan Baker said that this laying off was expected. “Every person that was surrounded by this technology and was relying on it is now in distress” .