Intel Corp. may fire thousands of workers by the end of the month, around the same time the chip manufacturer reports quarterly results amid a tough year for semiconductor makers, according to a report late Tuesday.
Layoffs will be announced “as early as this month,” Bloomberg reported, citing unidentified sources described as having knowledge that the cuts are coming. Intel INTC, -0.63% has around 121,100 employees worldwide. While the report did not include geographical specificity concerning the targeted jobs, it said the sales and marketing departments could see up to 20% reductions in staff.
The last time Intel laid off a large number of workers was back in April 2016, when the Santa Clara, Calif.–based chip company announced it was cutting 12,000 jobs, or 11% of its workforce, on the same day it reported quarterly earnings.