Intel is facing a steep decline in demand for PC processors, its main business, and has struggled to win back market share lost to rivals like AMD.
Intel Corp. is planning a major reduction in headcount, likely numbering in the thousands, to cut costs and cope with a sputtering personal computer market, according to people with knowledge of the situation.
And Intel’s once-enviable margins have shrivelled: They’re about 15 percentage points narrower than historical numbers of around 60%. Like many companies in the technology industry, Intel also froze hiring earlier this year, when market conditions soured and fears of a recession grew. PC sales tumbled 15% in the third quarter from a year earlier, according to IDC. HP Inc., Dell Technologies Inc, and Lenovo Group Ltd., which use Intel’s processors in their laptops and desktop PCs, all suffered steep declines.
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