Intel, tech giant company slashing about 11% of its workforce globally.
Intel is the largest computer chipmaker in the world and have dominated the PC industry, but they failed to replicate success in mobile devices.
Intel said that they want to invest more in its data center and will focus on Internet of Things (IoT) businesses.
The shares of the company were down to 3% as reported, their sales for the last quarter was $13.7 billion, up by 7% from last year, and 3% up of about $2 billion in profits.
It summarizes that Internet of Things will make their sales more profitable with its high-growth potential in the business.