Tuesday September 05, 2006

Intel may announce job cuts soon

news.yahoo.com :

Intel, the world's biggest microchip maker, may cut up to 10% of its work force, a technology news site said, citing sources familiar with the plans. Earlier this month, the company wrapped up a 3-month review of its operations aimed at saving it $1 billion a year and making it more competitive with rival Advanced Micro Devices (AMD).

Analysts have said the Santa Clara, California-based firm is almost certainly preparing to slash its 100,000-strong work force, and the size and timing of the cuts have been a topic of heated speculation in recent weeks. Previous estimates by Wall Street analysts have put the size of the cuts anywhere from a few thousand to 16,000 employees. The cuts would be the latest in a string of actions taken by Intel Chief Executive Paul Otellini to try to restart growth at the company, which posted a 56% drop in net profit for its second quarter.

- When the earlier news came out on the chopping of the 1000 management jobs at Intel, it was reported that "Intel reported a 38% drop in first-quarter profit". Note how this has now worsened to a 56% drop in profit for the second quarter.

See also :

1. Intel to slash 1000 management jobs

(2006-09-05 12:47:38 SGT) [Biz] Permalink

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