Intel to cut 16,000 jobs?

Posted on Thursday, June 01 2006 @ 16:59 CEST by Thomas De Maesschalck
TG Daily heard that Intel will lay off or "re-deploy" up to 16,000 of its employees, as part of its restructuring process.
Omid Rahmat reported about Silicon Valley rumors involving layoffs in his blog this morning, referring to industry sources. "Rumors are a leapin' around Silicon Valley that Intel may end up laying off 16,000 people, and getting rid of a bunch of marketing initiatives, Viiv the unpronounceable being rumored to be one destined for the death knell," he writes.

Intel, of course, is one of those very few companies that never have laid off workers. And even in the most dramatic employee reshuffle following the dotcom bust in 2002, the firm did not lay off, but rather "re-deployed" about 5000 employees within the company. Following a challenging year, "moderating" demand for PCs and increased competitive pressure, Intel may be making more serious decisions that impact up to 16,000 employees and complete business units. At the time of writing this article, it was unclear if the Intel will be announcing layoffs or employee re-deployments.
More details over here.

About the Author

Thomas De Maesschalck

Thomas has been messing with computer since early childhood and firmly believes the Internet is the best thing since sliced bread. Enjoys playing with new tech, is fascinated by science, and passionate about financial markets. When not behind a computer, he can be found with running shoes on or lifting heavy weights in the weight room.

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