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Intel to cut 5% of staff

Chip giant to cut jobs in face of flat PC market

Intel to cut 5% of staff
Intel has warned it does not expect revenue growth in 2014.

Intel has warned that it will cut several thousand jobs, as it expects no revenue growth in 2014.

The chip company has said it expects to lose 5% of its workforce, in the face of a continued slump in PC markets.

Intel posted its 2013 results on 16th January, showing full-year revenue of $52.7 billion and operating income of $12.3 billion, down by 1% and 16% from 2012 respectively. Revenue for the PC Client Group was down 4% from 2102, to $33.0 billion. Revenue for the Data Center Group was up 7%, to $11.2 billion.

"We had a solid fourth quarter with signs of stabilization in the PC segment and financial growth from a year ago," said Intel CEO Brian Krzanich. "We've built a strong foundation for our business by bringing innovation to the market more quickly across a wide range of computing platforms. For example, at CES, we demonstrated multiple devices that weren't on our roadmap six months ago."

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