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Intel to cut thousands of jobs?

Posted on Friday, September 01 2006 @ 14:38:20 CEST by

Intel's CEO Paul Otellini is expected to announce a massive layoff on Tuesday that may cut as many as 10,000 jobs.
The Santa Clara, Calif.-based chipmaker, having suffered several financially disappointing quarters, launched an internal analysis in April to find ways to increase its efficiency. Otellini is scheduled to announce the results of the analysis, including the layoff, on Tuesday after the stock market closes, sources familiar with the plans said.

Intel has about 100,000 employees worldwide, so the cut could be as high as 10 percent of the company's staff.

The job cut is likely to weigh particularly heavily on marketing staff. Intel studies comparing its own staffing levels to competitors' concluded that the ratio of marketing personnel to salespeople was too large, the sources said.
More details over at CNET.



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