Intel To Cut Short Its Workforce By 5 Percent In 2014

As per the experts, though Intel dominates the PC chip industry, it has been sluggish to blend-in its processors for smartphones and tablets, which has led to its downfall.

Bernstein analyst Stacy Rasgon says, "If they've got a bunch or resources in a market that may not be dead but is not growing a ton, it probably makes sense to reprioritize those investments in areas where there are fast-growing markets."

Intel is also not the only IT company to shed its employee count this year. Hewlett-Packard (HP) and Dell are some of the other biggies who have announced big job cuts as part of their major revamp plans this season.

Hewlett-Packard recently announced that it is planning to shed nearly 11 percent of its workforce (34,000 jobs) this year.

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