Intel announced it will lay off as many as 12,000 people worldwide.
The company is based in Santa Clara. It issued a statement today Tuesday that says it is evolving from a PC company to one that powers the cloud and smart devices.
The company will roll out the layoffs over the next 60 days.
About 6,000 people work at the company's Folsom campus. About 150 people were laid off there last year.
The company employs more than 100,000 people worldwide.