Intel to cut 2,200 jobs in U.S. as it downsizes to $5 billion business

A key part of Intel’s plan to close the software unit and cut 2-3,000 jobs will focus on its hardware engineering and computer hardware engineering business, the company said on Tuesday.

Intel said it is reducing the number of employees in each area by at least 500 to 2,100 by the end of the year.

“Intel’s engineering and business operations are highly competitive and have consistently been among the best performers in the industry,” CEO Brian Krzanich said in a statement.

“Our focus in the next few quarters will be on focusing our efforts on the hardware engineering, including the development of new technologies and platforms, the engineering and design of our new high-performance chips, and the development and manufacturing of new products and solutions.”

Intel plans to sell off some of its chip manufacturing and distribution operations.

Krzanisch said the company plans to take advantage of “unprecedented economic conditions” to sell some of the remaining hardware businesses.

“In the next year, we will continue to focus on our engineering, manufacturing and technology investments, while also focusing on building and growing our operations in the U.K.,” he said.

Intel has a $7.2 billion cash and marketable equity fund, but has been unable to raise additional capital as it seeks to meet new regulatory requirements.

“We’ve been focused on our hardware and software business and are continuing to work on a number of strategic initiatives, including our next-generation architecture for the server market and our next generation server processors,” Krzanichek said.

“These initiatives are critical to our long-term success.

We remain focused on building our business, and we remain focused in our strategy to grow our business.”

Intel is also making other cuts, including about 200 jobs in its sales and marketing department.

The company has been making big cuts at the semiconductor manufacturing business as well.