Arab Today, arab today intel to cut staff in face of stagnant earnings
Last Updated : GMT 07:22:14
Arab Today, arab today
Arab Today, arab today

Intel to cut staff in face of stagnant earnings

Arab Today, arab today

Arab Today, arab today Intel to cut staff in face of stagnant earnings

San Francisco - AFP

US chip giant Intel said Friday it will trim its workforce by five percent this year as it shifts from personal computers to powering mobile gadgets. Word of the job cuts came a day after Intel reported that its net profit last year sank 13 percent but that the troubled personal computer market appeared to be stabilizing. Intel shares remained around the closing price of $25.85 in after-market trades. "We do expect employment to come down by about five percent by the end of the year," Intel spokesman Chris Kraeuter told AFP. "It is something we regularly do to make sure that the people we have match up with our priorities." Kraeuter said California-based Intel ended last year with 107,600 workers. He declined to disclose which positions or locations would be targeted for cuts. Trimming workforce could include simply not filling positions as people quit or retire, according to Kraeuter, who noted that the annual attrition rate at Intel is nearly four percent. He contended "it would be wrong to conclude this is a layoff." Intel reported on Thursday it made a net profit of $9.6 billion on revenue of $52.7 billion last year as compared with $11 billion in net profit on $53.3 billion in revenue in 2012. “We had a solid fourth quarter with signs of stabilization in the PC segment and financial growth from a year ago,” said Intel chief executive Brian Krzanich. In the final quarter of the year, Intel posted profit of $2.6 billion on revenue of $13.8 billion as compared with $2.5 billion net income on $13.5 billion in revenue during the same period in 2012. "We’ve built a strong foundation for our business by bringing innovation to the market more quickly across a wide range of computing platforms," said Krzanich. "For example, at CES, we demonstrated multiple devices that weren't on our roadmap six months ago,” referring to the Consumer Electronics Show gadget extravaganza in Las Vegas last week. Krzanich said at the event Intel would produce on its own or with partners a range of products from a health monitor integrated into baby clothes to a heart monitor in earbuds. He showed the company's new "personal assistant" dubbed Jarvis, which is Intel's answer to the voice-activated Google Now and Apple's Siri. Intel will be producing a smartwatch with "geofencing" which allows families to get alerts if children or elderly parents leave a specific geographic area. The new devices shown to the large CES crowd will all be available this year, Krzanich said, without offering details on pricing or specific partners for the products. "The problem with mobile and wearables is the more you win, the more you lose," said analyst Rob Enderle of Enderle Group in Silicon Valley. "Intel is a large margin company, and wearables are a small margin product." The analyst was referring to the window for profit being typically higher on chips for personal computers than on processors powering smartphones, tablets or products in the booming "wearables" category. Intel remains the world's biggest producer of chips for personal computers but has been lagging in the surging mobile marketplace of tablets and smartphones. The new initiative could allow the firm to get a bigger slice of the mobile market's newest iterations. Intel forecast revenue in the current quarter of about $12.8 billion and that it would be flat for the overall year. Market sales figures indicate that the trend of switching from personal computers to tablets is slowing, according to Enderle. "It is starting to drift toward equilibrium," the analyst said. "It will stabilize eventually and Intel will grow around it. It is just that, until it gets there, it will be painful." Any heralding the death of the personal computer is premature, according to Enderle, who envisioned modern lifestyles supporting a mix of PCs, tablets, and smartphones. "The great thing about Google Glass is that it could replace all three," the analyst said of the Internet giant's yet-to-be released smart eyewear. "But, we are well away from that; not until next decade."

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today intel to cut staff in face of stagnant earnings Arab Today, arab today intel to cut staff in face of stagnant earnings

 



Arab Today, arab today
Arab Today, arab today Fadi Kataya explains secrets of  Nancy Ajram's newlook
Arab Today, arab today Messi visit will contribute in tourism

GMT 14:04 2017 Friday ,24 February

Messi visit will contribute in tourism
Arab Today, arab today Expresses Algerian history by woody figures

GMT 13:26 2017 Friday ,24 February

Expresses Algerian history by woody figures
Arab Today, arab today Iran complying with nuclear deal

GMT 07:14 2017 Saturday ,25 February

Iran complying with nuclear deal

GMT 10:47 2017 Thursday ,23 February

Saudi Aramco may offer discounted shares to citizens

GMT 06:25 2017 Thursday ,23 February

Bupa Arabia sponsors SMEA forum

GMT 06:11 2017 Thursday ,23 February

Football: Turkish company wins Qatar World Cup contract

GMT 05:46 2017 Thursday ,23 February

SABIC net profits fall in 2016

GMT 21:01 2017 Wednesday ,22 February

Saudi Aramco mulls offering citizens discounted shares

GMT 16:50 2017 Wednesday ,22 February

Yahoo salvages Verizon deal
View News in Arabic - Business: أخبار الشركات
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Reading therapy relieves mental disorders

GMT 15:39 2017 Friday ,24 February

Reading therapy relieves mental disorders
Arab Today, arab today UK appoints 1st Scotland Yard chief in 188 years

GMT 05:14 2017 Thursday ,23 February

UK appoints 1st Scotland Yard chief in 188 years
Arab Today, arab today Ex-yoga missionary unleashes rage

GMT 12:16 2017 Thursday ,23 February

Ex-yoga missionary unleashes rage
Arab Today, arab today Pluto's unruly moons

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons
Arab Today, arab today Tesla back into red but revenue grows

GMT 07:27 2017 Thursday ,23 February

Tesla back into red but revenue grows
Arab Today, arab today Nissan enhances sales in most markets

GMT 14:08 2017 Monday ,20 February

Nissan enhances sales in most markets
Arab Today, arab today Actress Lobna Abdel Aziz proud of her career

GMT 06:08 2017 Thursday ,23 February

Actress Lobna Abdel Aziz proud of her career
Arab Today, arab today Milan laughs while Rome cries

GMT 10:28 2017 Wednesday ,22 February

Milan laughs while Rome cries

GMT 07:36 2017 Wednesday ,22 February

Wafaa Amer is happy for Sherihan’s return

GMT 12:35 2017 Tuesday ,21 February

63-Year-Old Woman Delivers Baby

GMT 22:42 2017 Thursday ,23 February

Nasima Gamei revives heritage in jewelries

GMT 15:53 2017 Tuesday ,21 February

Small ponds have outsized impact

GMT 20:33 2017 Friday ,17 February

To release new antiques collection

GMT 07:51 2017 Wednesday ,22 February

Mom's immune system accepts babies

GMT 09:59 2017 Monday ,20 February

Tourism shows signs of recovery

GMT 13:12 2015 Saturday ,09 May

Sheikh Sultan opens Sharjah Centre

GMT 20:02 2017 Tuesday ,21 February

Nohan Seyam designs beautiful accessories
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday