The news comes from "people with knowledge of the situation" so be cautious until it can be verified.The speculated layoffs could affect thousands of people across multiple divisions, according to Bloomberg's unknown source.But apparently the company needs to finally reduce its headcount of 121,000 by approximately 11% (12,000) now that PC sales are declining and the company's data center business is likely to follow suit, according to Bloomberg.Last quarter Intel's Client Computing Group responsible for PCs commanded about 50% of the company's revenue, so if Intel is bracing for a long decline of PC shipments, then management needs to react, which is why it is said to be cutting down its workforce.Jim Keller talked a bit about this (Apple's refocusing and AMD cuts) in his long form chat with Jordan Peterson."