Intel ready to cut 12,000 jobs by the middle of 2017

Intel, the US semiconductor giant, will cut 12,000 jobs worldwide by the middle of 2017, equal to 11% of its workforce. The scissors kick is part of the restructuring plan, developed by the Santa Clara group to accelerate its transformation to a higher growth sectors, such as the cloud. The plan provides for the consolidation of the various subsidiaries, a combination of voluntary and mandatory exit and re-evaluation of certain programs. The restructuring plan is expected to generate savings of $ 1.4 billion a year when completed, of which 750 million this year. But immediately the plan will result in an extraordinary expenditure of about 1.2 billion which will weigh on second-quarter accounts.

The measure was announced at the publication of accounts. In the first quarter of the year, Intel reported net income increased by 3% to $ 2 billion and revenues of $ 13.7 billion, up 7% and in line with expectations.