Intel plans to cut global workforce by 5% over 5,000 employees

Intel, a veteran chip giant, has fallen into a job-cutting storm and plans to cut 5% in 2014. Morning News (reporter Giolikun) the veteran chip giant intel into layoffs storm. The company plans to cut 5% jobs in 2014 and more than 5,000 employees will be affected. Last weekend, Intel announced the plan. The company's head said it was part of a plan to adjust the company's human resources to meet business needs. The cuts are said to include early retirement, attrition and other options. Intel is struggling to cope with falling PC sales and shifting its focus to areas where growth is faster. The company's recent fourth-quarter earnings showed a net profit of $2.6 billion trillion, up 6% per cent year-on-year. But the report was less than analysts had expected. Intel's shares fell 3% per cent after trading in the New York market after earnings were released. On the quarterly conference call, Intel CFO Stethey Smith has hinted at layoffs this year. Intel will increase investment in data centers, low-power chips and tablets, he said. The world's traditional PC industry has continued to slide for 7 quarters. Global PC shipments fell by 10% in 2013, according to market research firm Gartner. Intel has been forced to close a large chip factory in Arizona, State, USA. Of course, the dilemma not only troubles Intel, HP plans to lay off 34,000 people in the 2014 fiscal year, accounting for 11% of total staff, and Dell was privatized last year.