Intel to Slash 12,000 Jobs as PC Demand Plummets - The New York Times

A painful transition from PC to cloud + mobile

"“Intel has been known as the PC company,” Mr. Krzanich said in an earnings call with Wall Street analysts. “It’s time to make this transition and push the company all the way over” to supplying chips for things like smartphones, cloud computing, sensors and other devices.

Intel’s restructuring is the latest evidence of how onetime tech bellwethers have had to navigate a rapid shift into the more flexible and dispersed tech world created by the combination of mobile computing devices connected to cloud computing systems. On Monday, for example, IBM reported lower profit and revenue, including a 22 percent drop in sales of computing hardware."

Intel to Slash 12,000 Jobs as PC Demand Plummets - The New York Times