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Intel will cut 12,000 jobs Globally

American multinational technology company Intel corp. has announced its plan to cut off 12,000 jobs globally. which is 11 percent of total employees.

Intel plans to focus on its high-growth areas like its data center and Internet of Things businesses (IoT). These growth businesses delivered $2.2 billion in revenue growth last year, and made up 40 percent of revenue. And company plans to increase investments in its data center, IoT, memory and connectivity businesses, as well as growing client segments such as 2-in-1s, gaming and home gateways.

Intel also plans to increase investments in the products and technologies that that will fuel revenue growth, and drive more profitable mobile and PC businesses.

The majority of these 12,000 employees will be affected over the next 60 days, some of the remaining jobs will be cut only by mid-2017. The company expects to save about $750 million through this move in 2016. And Annual run rate savings of $1.4 billion by mid-2017.

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