Intel will be cutting about 5,000 jobs from its work force

Intel said Friday it will cut about 5,000 jobs from its work force of 107,000. The world’s biggest chip maker made the announcement a day after it reported earnings that missed analyst targets. Brian Krzanich, chief executive of Intel, said that the company expects flat sales of its chips due to the decline of the PC industry as smartphones and tablets supplant computers with many consumers.

Intel plans to cut about 5 percent of its global workforce, the company said in a statement Friday. That comes to roughly 5,000 out of a total workforce of 107,000, Reuters said. “Intel will be aligning resources to meet the needs of the business this year. This will include targeted workforce reduction in addition to realignment of resources,” Intel said in a statement provided to CNET. The statement continued. “While we expect that employment will come down by approximately 5 percent this year, we are not announcing a layoff. When we talk about reduction of the workforce there are a number of things that can happen. It could include redeployments, voluntary programs, retirements, and through attrition.”