The chip group Intel is hit hard by the downturn in the PC market and resorts to extensive austerity measures. In the last quarter, consolidated sales fell by a fifth year-on-year to $15.3 billion.

The bottom line is that profits even fell by 85 percent to one billion dollars.

In the coming year, Intel now wants to reduce costs by three billion dollars - and is aiming for annual savings of eight to ten billion dollars by the end of 2025. A charge of $664 million was booked for remodeling in the past quarter. Intel shares rose more than 4 percent in after-hours trading.

For Intel, the business with chips for personal computers continues to play a major role - and the market had recently shrunk significantly. Revenue from Intel's PC division fell 17 percent year-on-year to $8.1 billion. But also in the business with data centers there was a strong decline of 27 percent to 4.2 billion dollars. High inflation and concerns about the economy are currently keeping companies from investing in new technology.