Even the world's biggest chip maker decides to shrink every once in a while.
In January, Intel (INTC) announced it will trim about 5% of its 107,500 global workforce by the end of 2014. That amounts to just over 5,300 job cuts.
The chip behemoth, which is grappling with the fact that consumers are buying fewer PCs, cited "evolving market trends" for the downsizing. The company had reported disappointing earnings and guidance the day before.
Intel said the workforce reduction was "not a layoff" per se, but a "target employment rate" for the end of the year.
