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Intel Cutting Workforce on Slow Sales

Chipmaker Intel plans to reduce its global workforce by more than 5,000 people over the next year.
Chipmaker Intel plans to reduce its global workforce by more than 5,000 people over the next year.

That works out to about five percent of its employees.

Intel says this is not a layoff.  The cuts will come from people retiring, redeployments, or people leaving voluntarily.

The Wall Street Journal reports Intel's business selling server chips grew less than expected.  The paper reports the big chip maker ended 2013 with 107,600 employees, indicating that the cuts could affect close to 5,400 workers.

The company says the move is in response to "evolving market trends."

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