Intel is reportedly readying its third round of layoffs in past 18 months

Online journal TechCrunch has disclosed in a recent report that chip maker Intel will likely announce another round of job cuts in the near future. The projected layoff move by Intel will mark the company's third round of layoff in the last 18 months.  

According to the TechCrunch report, citing "sources close to Intel", the impending round of layoffs to be announced by Intel is apparently a result of the company's lackluster performance in its embryonic wearables business.

As per the details shared by TechCrunch's unidentified sources, the layoff round being readied by Intel will have a significant impact on the company's employees in its wearables division. The efforts of the wearable division mainly focus on developing several new technologies, especially smartwatches, earbuds and electronics that can be embedded in clothing.

Overall, as compared to the last round of layoffs announced by Intel in April, the pending layoffs will be substantially much smaller because the company's wearables business is quite small.

In announcing the layoff round in April, Intel - which eliminated more than 1,100 jobs in 2015 - had said that it plans to cut 12,000 jobs across the company. Meanwhile, after the previous job-cuts, there were barely 579 employees in Intel's entire new devices group in the US.