Intel Corp. to Cut 10,500 Jobs
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By JORDAN ROBERTSON  SAN JOSE, Calif. - Shares of Intel Corp. fell in after-hours trading after the world's largest chip maker announced sweeping job cuts that some investors believed were not severe enough.  Intel shares fell 26 cents to $19.73 in after-hours trading Tuesday.
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Intel, the world's leading computer chip maker, slashes its revenue forecasts, triggering a decline in global chip stocks.
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Intel Corp. (INTC.O: Quote, Profile, Research) on Thursday cut its third-quarter revenue and profit margin forecast after demand for both its computer microprocessors
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The two-year effort will reduce its work force by 10 percent and cut $5 billion in costs. Analysts see measures as essential to compete against Advanced Micro Devices.
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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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Intel Corp. , the world's largest computer chipmaker, on Thursday said Chief Executive Craig Barrett plans to step aside and be replaced by President Paul Otellini, in a long-planned move.
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Oracle will eliminate about 5,000 jobs following its $10.3 billion acquisition of PeopleSoft, the company said Friday.
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European jet maker Airbus revealed plans on Wednesday to axe 10,000 jobs, nearly a fifth of its workforce, as part of a radical cost-cutting scheme to lift the company out of a financial crisis.
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Intel Corp. INTC.O said on   Tuesday it is cutting 10,500 jobs, or about 10 percent of its   work force, as part of a plan to become more competitive   against a resurgent Advanced Micro Devices Inc. AMD.N.
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Intel, the world&#39;s largest chip maker, scrapped a plan Thursday to enter the digital television chip business, marking a major retreat from its push into consumer electronics.
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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 plans to lay off 800 workers at a Colorado chip-making plant, fallout from its decision to sell its XScale processor division in 2006.
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Nortel Networks Corp. NT.TO on  Thursday said it would eliminate about 10 percent of its work  force, slightly less than previously estimated, and consolidate  real estate in a cost-cutting plan that will save $500 million  in 2005.
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Intel Corp., the world's largest semiconductor maker, will cut 10,500 jobs -- 10 percent of its workforce -- as part of a plan to reduce costs by $3 billion annually starting in 2008.
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The AMD effect CNET has come out as the first organ willing to put a firm number on Intel's alleged upcoming mass layoff. The online rag reckons that up to 10,000 workers will be cleaved from Intel's payroll. Word of the layoffs should arrive next Tuesday after the stock markets close their regular trading sessions.â¦
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As expected, the chipmaker announces 10,500 layoffs as part of a strategy to cut costs and regain momentum.
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Shares of Intel fell sharply as the nation's largest semiconductor maker lowered its revenue and profit margin forecast.