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Intel announced that it's cutting more than 5,000 jobs as the company looks to recover from decreasing personal-computer sales.
The announcement came a day after the company missed analysts' expectations and posted weaker than expected fourth quarter earnings. The company also gave a tepid forecast for its first quarter.
Shares of Intel plunged 2.6 percent on Friday.
Re/code has the full story here
—By Ina Fried, recode.net.
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