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Intel (INTC) is Axing a Major Portion of Its Wearables Group



11/21/2016 6:24:48 AM

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Intel is in the process of laying off workers in its New Devices Group and, more specifically, within its wearable products division, technology blog TechCrunch reported Friday.

The blog cites unnamed sources saying the move is expected to produce many job losses and could signal the Santa Clara, Calif.-based chipmaker’s intent to exit that space altogether.

Intel’s wearables work includes its partnerships with fashion brands like Fossil as well as products by the startup Basis Science, which it acquired in 2014, and a smart bracelet called MICA that was created with design partner Opening Ceremony.



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