Intel could cut thousands of staff amid an expected $11 billion drop in sales
Intel Corporation intends to lay off thousands of workers amid an expected drop of billions in sales and revenue.
Bloomberg reported this week that the staffing cuts at Intel could be made this month after a steep decline in demand for PC's. The company employs about 113,000 people.
The report also stated that divisions, like sales and marketing, could experience 20% of those cuts. In a July earnings call, CEO Pat Gelsinger said that sales would be $11 billion lower than it expected in 2022.
An Intel spokeswoman emailed she could not confirm the report.
Construction of Intel’s two chip processing plants in Licking County is underway. The company intends to build two plants by 2025 and up to eight later. Ohio has invested nearly $2 billion in tax breaks and incentives.
The governor's office issued a statement that said, "we do not have any reason to believe the news reports will have an effect on the Ohio facility."