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Tech giant Intel to cut up to 12,000 jobs by mid-2017

Intel aims to reduce its reliance on the PC market. Credit: Reuters

US tech giant Intel has announced plans to cut up to 12,000 jobs as part of a restructuring drive.

The California-based company's move to reduce its dependence on the slumping personal computer market will eliminate about 11% of its workforce by the middle of 2017.

Intel said in a statement that the restructuring aims to "accelerate evolution from a PC company to one that powers the cloud and billions of smart, connected computing devices".

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