Budget Cuts Will Mean Layoffs at Fermilab
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The nationâs premier center for plumbing the mysteries of the universe in the tiniest bits of matter is planning to lay off more than 10 percent of its employees.
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The Blue Bell, Pa.-based company said it will close some of its facilities and reduce its employee head count.
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(InfoWorld) - Not satisfied with its string of product announcements and sunny press coverage in recent weeks, Intel kept the ax swinging, announcing plans to lay off thousands more employees as part of a larger restructuring that will include some 10,500 job cuts by mid-2007. The move, announced late Tuesday, followed widespread rumors of upcoming cuts. With an eye on the bottom line, Intel said that the restructuring will help save $2 billion in 2007 and $3 billion annually in 2008 and beyond. Intel CEO Paul Otellini has made no secret of his desire to slim down the company, which still dominates the computer chip market but has been steadily losing market share to rival AMD in recent years. In June, Intel sold its communications and application processor unit to Marvell Technology Group for $600 million. The company then cut about 1,000 management jobs in July. This time around, Intel is hoping a combination of layoffs and non-workforce-related steps, such as cutbacks on merchandising, capital, and materials expenses, will make the difference. âThese 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,â Otellini said in a statement. Rob Enderle, principal analyst at Enderle Group, said the companyâs piecemeal approach to layoffs recall HPâs efforts to trim down under then-CEO Carly Fiorino: multiple rounds of layoffs that left remaining workers with a only a vague idea of the companyâs direction. âIâm not convinced that this will do what [Intel] expects it will do. Cuts donât help the overall productivity and competitiveness of a firm. You lose a lot of people, then you have to recover from that loss,â Enderle said.
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Intel, the world's largest computer chip manufacturer, will cut 10,500 jobs, or about 10% of its total staff.
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Dell also announced that it would lay off 10 percent of its work force over the next year in order to reduce costs.
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Intel Corp. , the world's largest semiconductor maker, will cut 10,500 jobs as part of chief executive Paul Otellini's plan to reduce costs by $3 billion annually starting in 2008.
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Citigroup  will announce plans to cut payrolls by 17,000 to 24,000 people when it reports earnings on Tuesday, CNBC television reported on Monday, adding that the layoffs could take place over a year.
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WASHINGTON -- Under a far-reaching policy change to be announced today, all staff scientists at the National Institutes of Health will be banned from accepting consulting fees or other income from drug companies, and the employees also must divest industry stock holdings.
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Intel Corp.  said on  Tuesday it will cut a total of 10,500 workers, or 10 percent of  its workforce, by the middle of next year, as part of a  restructuring aimed at making the world's biggest chipmaker  more competitive.
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Intel Corp. , the world's  biggest microchip maker, is set to announce sweeping job cuts  later on Tuesday, the Financial Times said, amid speculation  that up to 10 percent of its staff could go.
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Intel Corp., the world's biggest   microchip maker, is set to announce sweeping job cuts later on   Tuesday, the Financial Times said, amid speculation that up to   10 percent of its staff could go.
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A fire service authority is expected to announce cuts due to the reduction of local authority funding.
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The company that put power consumption on the map is thinking of getting out of the expensive business of making chips.
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The scandal-beset company will also lay off about 10 percent of its work force.
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Citigroup  will announce plans to  cut payrolls by 17,000 to 24,000 people when it reports  earnings on Tuesday, CNBC television reported on Monday, adding  that the layoffs could take place over a year.
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Intel Corp. INTC.O said on   Tuesday it will cut a total of 10,500 workers, or 10 percent of   its workforce, by the middle of next year, as part of a   restructuring aimed at making the world's biggest chipmaker   more competitive.
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Intel Corp. INTC.O, the world's   biggest maker of microchips, is expected to announce major job   cuts on Tuesday as part of a plan to trim $1 billion in costs   and regain its competitive edge, analysts and media reports   said.