More Intel Layoffs? CFO Bob Swan Hinted Exactly That: Report
The comments apparently surfaced during an Intel financial team meeting. The chip giant declined to comment about the Oregon Live report. That media outlet, by the way, has been on target with earlier layoff coverage at the company.
Intel’s Q2 2017 financial results, announced in July 2017, beat Wall Street’s expectations. More recently the company has unveiled its 8th generation core processors, which could give the company a further boost.
Intel R&D Priorities
Still, the chip giant is balancing multiple priorities. The company recently killed selected Internet of Things (IoT) projects while also doubling down on certain autonomous car initiatives. The business must also continue to innovate in the data center, where big cloud services providers (CSPs) like Google, Facebook and Microsoft increasingly design hardware and software components on their own to get a leg up against rivals.
Intel has cut about 12,000 jobs — or about 11 percent of its workforce — since April 2016. It sounds like CFO Swan is considering much more targeted cuts this time around, according to the Oregonian.