Slumping Intel to cut more than 5,000 jobs in 2014

Santa Clara, Calif.-based computer chip manufacturer Intel plans to trim more than 5,000 jobs from its workforce this year in an effort to boost its earnings amid waning demand for its personal computer chips.

The cuts represent about 5 percent of the company's payroll of 108,000, as of Dec. 31. The job reductions would occur through attrition, buyouts and early retirement offers, according to the Seattle Times.

Intel did not estimate an amount of money it hopes to save with the plan.

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