Intel braces for layoffs

Intel is expected to announce internally the results of its efficiency review on Sept. 5, a move that could result in thousands of layoffs.

The chip maker, which has already made a series of sweeping moves as part of the review, could cap the action by cutting 10,000 or more jobs, analysts have said. The company has about 100,000 employees.

Intel began the review and restructuring plan in April following missteps that battered its quarterly financials, saw its inventories rise and caused its market share to drop. All told, Intel has jettisoned its communications processor business, reorganized its Flash Memory Group, laid off 1,000 managers and shuffled its senior executive ranks, promoting senior executive Sean Maloney to chief sales and marketing officer, leading its Sales and Marketing Group.

The expected conclusion of the review on Aug. 31 sparked reports by The Wall Street Journal and online site News.com, which said Intel could cut somewhere between 10,000 to as many as 20,000 jobs.

View: Full Article @ eWeek.com

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