By Tess Stynes

Intel Corp. said it plans to reduce its global workforce by up to 12,000 jobs, or 11% of its workforce, as the semiconductor giant seeks to transition away from a computer-based company.

"These actions drive long-term change to further establish Intel as the leader for the smart, connected world," Chief Executive Brian Krzanich said in an email to employees. The chip maker had a global workforce of 107,300 employees at the end of 2015, according to a regulatory filing.

For decades, Intel has been the primary provider of chips for personal computers. As PC sales have slowed, the chip maker has focused more on providing the computing power for specialized chips and server systems.

Intel said Tuesday that the job cuts are part of the company's restructuring away from a computer-based company to one that powers the cloud and billions of connected computing devices.

Intel also said its chief financial officer, Stacy Smith, will transition to a new role leading sales, manufacturing and operations, once the company identifies a successor for Mr. Smith, a 28-year Intel veteran. The company has begun an executive search that will include internal and external candidates.

The company announced the changes with its first-quarter results, which included a worse-than-expected 7.2% increase in first-quarter revenue.

Over all, Intel reported a profit of $2.05 billion, or 42 cents a share, up from $1.99 billion, or 41 cents a share, a year earlier. Excluding certain items, the company reported per-share earnings of 54 cents. Analysts polled by Thomson Reuters expected per-share profit of 48 cents.

Revenue increased to $13.7 billion from $12.78 billion. The company expected $14 billion, plus or minus $500 million. Analysts expected revenue of $13.83 billion.

For the second quarter, Intel projected revenue of $13.5 billion, plus or minus $500 million. Analysts polled by Thomson Reuters expected revenue of $14.16 billion.

Shares of the Santa Clara, Calif., company recently fell 3.1% to $30.60 in after-hours trading

Write to Tess Stynes at tess.stynes@wsj.com

(END) Dow Jones Newswires

April 19, 2016 16:49 ET (20:49 GMT)

Copyright (c) 2016 Dow Jones & Company, Inc.
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