Intel to cut jobs as slump in computer shipments pushes earnings down

Software and personal computer giant Intel is looking to cut an unspecified number of jobs after posting a 20 percent drop in sales in the third quarter, the Wall Street Journal reported Oct. 28. 

The decline in sales comes as the economic environment pushes down shipments of personal computers. Intel is looking to deliver $3 billion in cost-cutting measures by 2023. 

Intel CEO Pat Gelsinger told the Journal that the company is looking at divestitures as another cost-saving option along with the layoffs. 

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