Intel may again reduce its workforce by 20%: Report

Intel is planning for further layoff of its workforce in order to reduce costs while navigating a challenging macro-economic environment, as tech layoffs continue unabated.

The company did not reveal the number of employees to be laid off.   

In a statement to a news source, Intel said that it is working to accelerate its strategy while navigating a challenging macro-economic environment.

"We are focused on identifying cost reductions and efficiency gains through multiple initiatives, including some business and function-specific workforce reductions in areas across the company," an Intel spokesperson was quoted as saying.

Industry report suggests that the company may layoff around 20% of its employees at its client computing and data centre divisions.

"Very unfortunate news, but massive layoffs at Intel coming! Intel's Data Centre and Client computing groups are receiving 10% budget cuts, It's up to divisions to figure out how to cut, given fixed costs, means as much as 20% layoffs in groups," tweeted Dylan Patel, Chief Analyst at market research firm SemiAnalysis.

Last October, the chip-maker announced its plans to reduce its expenses by $3 billion this year.

Intel laid off more than 500 employees in California in job cuts announced last fall, according to filings with state workforce agencies.

"These are difficult decisions, and we are committed to treating impacted employees with dignity and respect," the company had said in a statement.