In the midst of the PC market decline, Intel has promised to cut tens of thousands of jobs

In the midst of the PC market decline, Intel has promised to cut tens of thousands of jobs ...

Chipmaker Intel is planning a significant increase in headcount, with one expected numbering in the thousands, in the face of a slowdown in the personal computer market, according to Bloomberg News on Tuesday, citing people who have been aware of the situation.

According to a survey, layoffs will be announced as early as this month, and some of Intel''s divisions, including the sales and marketing division, might see cuts affect about 20% of employees.

According to Bloomberg News, the company had 113,700 employees in July.

Intel has declined to comment on the effect reductions.

After missing expectations for the second quarter results, the company in July reduced its annual sales and profit forecasts.

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COVID-19 limits are under pressure in key PC market China and Ukraine, which have led to supply-chain cracks and even weighed on demand.

On Tuesday, Intel''s Chief Executive Officer Pat Gelsinger released a memo to company employees, detailing plans to create an internal foundry model for external customers and the company''s product lines.

Taiwan Semiconductor Manufacturing Company (TSMC) is the most prominent player in this space. Intel has primarily developed chips it has designed itself so far.

Intel announced in July that it would produce chips for MediaTek, a Taiwanese chip design company.

The manufacturing arrangement is one of the most significant agreements Intel has announced since it began its so-called foundry business early last year.

While Intel did not give any financial details of the transaction or indicated how many chips it would be producing for MediaTek, it said the first products would be manufactured in the next 18- to 24-month period and will be in a more advanced technology process called Intel 16, which includes smart devices.