Dive Brief:

• According to The Oregonian, "multiple sources" within Intel say the company is planning significant job cuts this spring.
• The job cuts, which sources say could be in the thousands by the end of the year, may begin as soon as Tuesday, following release of the company’s first-quarter results.
• The company has not publicly announced the layoffs and there are not yet any specifics on exactly how many employees face layoffs or when they will hit. 

Dive Insight:

At the end of 2015, Intel had 107,000 employees worldwide. But like other older IT companies, it’s having to adjust to a changing market.

In early April, Intel announced a number of executives were leaving the company—including the head of its IoT unit, the head of its client computing group and the head of its mobile chip unit.

Declining PC sales have taken a toll on chipmakers like Intel recently. Last week, Gartner said PC sales fell nearly 10% in the first quarter of 2016. The analyst firm reported that in the first quarter of 2016 total worldwide PC shipments dropped to 64.8 million, marking the first time they fell below 65 million since 2007.

Intel is not the only company struggling to adjust to adjust to the changing IT market. IBM began laying off workers in early March as part of its strategy to reinvent its core business. Nearly one-third of IBM’s U.S. workforce is being "rebalanced," according to a report from the International Business Times.