Intel has confirmed it is set to chop 5,000 positions from its global workforce after announcing falling profits and a bleak forecast last week.
On Friday, the chipmaker said it was preparing for a flat 2014 after sales for its last fiscal year slumped one per cent annually to $52.7bn (£32.28bn) and profit over the same period plummeted 13 per cent to $9.6bn.
After its results were released, the company revealed to Reuters that five per cent of its 107,000-strong workforce - 5,000 staff - would be let go this year.
An Intel spokesperson told the news agency that the move was part of its plan to "align [its] human resources to meet business needs", but did not give a timeframe or any details on which departments or countries would be affected.
The job cuts will include retirements and voluntary programmes, the spokesperson said, adding that its typical annual attrition rate globally already stands at about four per cent.
HPE CEO talks up RedPixie acquisition and indicates DRAM crisis is over on Q2 results call
Reseller expecting to beat expectations this financial year
Data storage vendor announces former Commvault executive as European channel director
Chinese parent reportedly looking to reduce debt after mega acquisition spree