DUBLIN, April 20, 2016 /PRNewswire/ --
Intel has announced a massive restructuring of its global operations. The company has announced it will cut up to 12,000 jobs globally, as it shifts its focus away from the dwindling personal computer market.
Global PC shipments dropped 9.6 percent in the first three months of the year, according to tech researcher IDC. Corporations increasingly rely on big machines rather than desktop models to run their businesses. The industrial PC market is expected to grow a further 10.26% by 2020, but this coincides with the drop in unit sales of personal computers.
The California-based company has been refocusing its business towards making chips for data center machines and IoT devices. In a statement released on Tuesday, it said these jobs cuts were necessary in its evolution from a PC company to one that powers smart, connected computing devices.
The Internet-of-Things (IoT) is a network of physical devices that are interconnected through various network technologies. The revenue generated from IoT infrastructure is projected to reach $453 billion by 2020. While the market for IoT devices is expected to grow at a CAGR of 43% by 2019, due to a growing preference for technologically advanced products.
As the world's largest chip maker, Intel could benefit greatly from these projections. Sales of products for data centers and IoT already accounts for 40 percent of the company's revenue.
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