Intel Confirms 10% Workforce Cut

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"update Intel Chief Executive Paul Otellini is expected to announce a massive layoff as soon as Tuesday that could eliminate as many as 10,000 jobs, CNET News.com has learned. 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."
Source and Full Article: Intel expected to cut thousands of jobs | CNET News.com
Comment: This coupled with dipdude's earlier news posting http://www.techenclave.com/forums/464172-post1.html is not good news for Indian Intel employees.
 
Intel rumours hint at 20,000 layoffs - Fifth of workforce under threat

Intel is said to be preparing to axe up to 20,000 jobs as early as this week, according to a report in The Wall Street Journal.

The projected lay-off figure is based on anonymous sources and analyst expectations. Intel currently employs about 100,000 workers.

Intel is facing a decline in market share, revenues and profit. The chipmaker said earlier this year that it is preparing a major reorganisation that seeks to cut costs in excess of $1bn annually.

The firm fired 1,000 managers in July in an attempt to address "slow and ineffective decision making", and spun off its communications and application processor businesses.

Intel has aggressively slashed prices for its existing products and is speeding up development of its next-generation processors as it attempts to win back market share from AMD.
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Intel rumours hint at 20,000 layoffs - vnunet.com
 
2,000 jobs go at Intel Malaysia

CHIP FIRM Intel will lay off up to 2,000 jobs at its Penang factory in an ominous sign that the cuts predicted here wil be very deep indeed.

The Star said that it is the second voluntary redundancy scheme offered in two months - one went out in mid-July as part of its manager cull.

Over the weekend we reported that Intel will webcast internally to its employees tomorrow, but senior managers have already been informed of the likely cuts to be made.

The Star reported that people at Intel Malaysia are being offered one and a half months salary for each year of service, or three months pay if they go straight away.

Early and reliable sources told the INQ some while back that as many as 5,000 jobs might go across the various Intel sites in Europe. But Intel has made no comment on job cuts as yet, apart from confirming the 90 days review is still underway.
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2,000 jobs go at Intel Malaysia

Intel Malaysia to slash 2,000 jobs in VSS exercise
 
Could this reshuffling be the reason behind the shoddy launch of C2D platform by Intel ??
lets hope all the billions they save ultimately benefits the end user in terms of cheaper prices for their goods.
 
i read this stuff ard 2-3 weeks bak..which mentioned that intel is planning to leave bangalore(bycutting 1000of jobs) some sort of that...hope i find that news item....
 
Intel Confirms 10% Workforce Cut

The job cuts are being made in Intel's latest effort to try and boost profits and efficiency

Reports have been published about the possibility of Intel cutting around 10,000 of its employees. As expected, the company today announced that it will be laying off 10,500 jobs, which is around 10 percent of its work force. Intel hopes it can save around $5 billion over the next two years -- and the job eliminations are a critical part of the company's restructuring. Almost 5,000 of the affected jobs have already been eliminated.

Intel is hoping to turn around sinking profits while trying to raise efficiency in its battle to take back market share from AMD. Intel Chief Executive Paul Otellini said: “These actions, while difficult, are essential to Intel becoming a more agile and efficient company, not just for this year or the next, but for years to come.”

Most of the job cuts by the Santa Clara-based company will impact the management, marketing and information technology departments, according to Intel. Manufacturing, design and other departments will suffer job cuts sometime in 2007. Intel expects severance costs to total around $200 million. This is going to be the largest number of job cuts by Intel in 21 years. Even though the loss of 10,500 jobs is bad, analysts expected numbers in the 15,000 range.

This is the biggest Silicon Valley restructuring since Sun Microsystems announced that it would cut 5,000 jobs in May.
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DailyTech - Intel Confirms 10% Workforce Cut

PC World - Intel Announces Layoffs, Reorganization

Intel cuts 10 per cent of work force

techPowerUp! News :: Intel Announces Restructuring to Reduce Costs and Operating Expenses.

Intel Announces Restructuring

Intel to "reduce" workforce by 10,500 | TG Daily

Intel fires 10,500 to make up for past mistakes | The Register
 
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