Friday July 21, 2006

Intel to slash 1000 management jobs

news.yahoo.com :

Intel Corp. is cutting 1,000 management jobs as the chip maker tries to become more efficient amid stiff competition and weaker demand for personal computers. The reduction is the latest action in a broad restructuring announced earlier this year. Analysts expect further job cuts as executives continue to scrutinize operations.

Over the past five years, the percentage of managers hired at Intel has grown faster than the overall employee population, Intel spokesman Chuck Mulloy said. In April, Intel reported a 38% drop in first-quarter profit as demand slackened for PCs and microprocessors from AMD continued to steal market share.

- Too many managers - that's a good one, lol. The suits need to watch this trend carefully.

(2006-07-21 17:32:56 SGT) [Biz] Permalink

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