Intel's major restructuring effort will result in 12,000 layoffs

Intel has announced a major restructuring effort that will cost 12,000 jobs, or 11 per cent of its workforce to mid-2017. The news comes as the company's plans to "accelerate its evolution from a PC company to one that powers the cloud and billions of smart, connected computing devices." The chipmaker is focusing on data centres and Internet of Things (IoT) as primary growth areas expected to offset the slowing PC market.

"Intel Corporation today announced a restructuring initiative to accelerate its evolution from a PC company to one that powers the cloud and billions of smart, connected computing devices. Intel will intensify its focus in high-growth areas where it is positioned for long-term leadership, customer value and growth, while making the company more efficient and profitable," the company said in a statement.

Source: TechSpot.com

HP to cut an additional 16,000 jobs or 5 per cent of workforce

Alarming news coming from HP today as the company says it needs to cut 16,000 jobs which is around five per cent of their workforce, in order to make ends meet, the latest numbers mean that as many as 50,000 employess could be let go in the wake of the ongoing global restructuring efforts.

No turnaround is easy and the PC market, which HP is a leader, has been taking a beating these last few years mainly because of the rise in mobile devices such as tablets and smartphones. Some companies, like Lenovo, are doing better than expected but HP's trying its best to right the ship.

With the first half of our fiscal year completed, I'm pleased to report that HP's turnaround remains on track," said Meg Whitman, president and chief executive officer, HP. "With each passing quarter, HP is improving its systems, structures and core go-to-market capabilities. We're gradually shaping HP into a more nimble, lower-cost, more customer- and partner-centric company that can successfully compete across a rapidly changing IT landscape." 

Source: HP