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Intel Confirms Major Layoff: 12,000 Worldwide, 11 Percent of Workforce (ieee.org)
Tekla Perry writes: It's all about the cloud and the Internet of Things, says Intel explaining the planned layoffs, which will affect some 12,000 employees. Intel CEO Brian Krzanich promises in an email today to employees, that the "transition" will be handled with the "utmost dignity and respect." According to IEEE Spectrum, "Intel Corp. today announced that it would cut some 12,000 jobs -- that's 11 percent of its total workforce -- by mid-2017, with the majority of those affected getting the bad news within the next two months. In a press release, the company said the 'restructuring initiative' would 'accelerate its evolution from a PC company to one that powers the cloud and the billions of smart, connected computing devices,' and that the company would be increasing its investments in 'data center, IoT memory, and connectivity businesses.'"
In other News, Intel announced 12,000 H-1B visa openings at Intel headquarters, most of which will be retained through subcontractors Tata Consultancy Services (TCS), Infosys, Wipro, and Tech Mahindra.