Intel set to announce job cuts: report
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Intel Corp. INTC.O, 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. slashed prices across its Pentium 4 and Itanium product lines Sunday as it prepares for its biannual developer conference in San Francisco at the beginning of September.
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Intel Corp  said on Thursday  it will drop out of the One Laptop Per Child project and resign  from the board after the project's board demanded the chipmaker  stop supporting other efforts in emerging markets.
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By Review, Idaho Business  Intel announced September 5 that it plans to lay off approximately 10,500 employees by the middle of 2007, reducing its workforce to 92,000.  Local microchip manufacturer Micron has a joint operating venture with Intel to produce flash memory.
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(InfoWorld) - Intel plans to lay off 800 workers from a chip-making plant in Colorado by August, after Marvell Semiconductor began ordering those parts from another supplier, Taiwan Semiconductor Manufacturing Co. (TSMC). Intel and Marvell have done business since June 2006, when Marvell bought Intel's XScale communications chip division and its 1,300 workers for $600 million. The sale was one component of Intel's sweeping corporate reorganization that also included the layoff of 10,500 employees. Marvell now sells thoseÂ Monahans chipsÂ to vendors of mobile phones, smartphones, and other consumer electronics handsets that use the processors to handle multimedia and mobile Web browsing, telephony, and GPSÂ navigation. Intel learned of Marvell's decision to find a new supplier around January and warned its workers that month that it planned to sell the Colorado Springs plant, said Intel spokesman Chuck Mulloy. He declined to say how much revenue Intel will lose when the contract ends. Intel plans to offer severance packages to its workers beginning in early August. The company also applied for a federal grant to help those workers learn new skills and find jobs, but the U.S. Department of Labor denied the request, he said. Now Intel is appealing the government's action and asking the department to reconsider its decision to withhold a grant from its Trade Adjustment Assistance (TAA) program. Under the TAA, the U.S. government gives aid to workers who lose their jobs through increased imports, providing them training, job search, and relocation allowances. Intel will continue to supply some components to Marvell from different plants, such as a facility in Santa Clara, Calif. Mulloy declined to say how many of its workers were employed making Marvell parts at that plant. Marvell confirmed it was shifting the business toÂ TSMC, saying its agreement with Intel had been created to last only through the transition of acquiring the cellular and handheld group. "TSMC is definitely the primary fab for us. It was never a long-term plan for Intel to keep manufacturing those chips," said Marvell spokeswoman Diane Vanasse. Marvell is struggling with its own problems, including a delisting threat by the Nasdaq stock exchange for failing to file quarterly reports for the last two terms of 2006, or its 2006 annual report. The company is also restating past results, after finding in May that CEO Sehat Sutardja and other top executives hadÂ illegally backdated stock optionsÂ to increase their value.
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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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Intel Corp. INTC.O, the world's   biggest microchip maker, may cut up to 10 percent of its work   force as early as next Tuesday, a technology news site said on   Thursday, citing sources familiar with the plans.
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Reduced revenue guidance from Intel (INTC:Nasdaq - news - research) had stocks under pressure Friday ahead of the key August employment report.
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Intel  on Tuesday posted  quarterly results and an outlook behind Wall Street targets,  sending its shares down 15 percent and stoking concerns about a  U.S. recession and further stock market sell-offs.
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(InfoWorld) - A week afterÂ announcing 10,500 layoffs in a complete corporate reorganization, Intel Corp. has continued to trim the company, selling off another division. Intel sold its optical networking components division on Friday to Cortina Systems Inc., a maker of communications chips for telecommunications carriers. The sale will allow Intel to focus better on its core products -- PC chips, network processors, modular communications platforms and optical modules, Intel said Monday. Financial details of the sale were not disclosed, although some published reports put it at US$115 million. While the sale shrinks Intel to a smaller size, it won't necessarily result in more layoffs. Cortina, based in Sunnyvale, California, plans to employ "a significant number" of the engineering, operations and marketing employees in the division. Intel Chief Executive Officer Paul Otellini began the corporate restructuring in April, when he told analysts that the company would earn $9.3 billion for 2006, down from $12.1 billion in 2005. Since then, he has sold off two other business units, laid off 1,000 middle managers, shuffled top executives, and announced a plan to shrink the company from 102,500 people in the second quarter of 2006 to 92,000 people by the middle of 2007. The sale of the optical networking components division could add to the number of jobs lost. Intel did not specify how many workers it employs in that division, but the number is reportedly 120.
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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 by the world's biggest microchip   maker to become more competitive.
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Intel will announce the results of an internal review of its operations next week that could result in thousands of layoffs at the company, according to published reports.
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Intel's presentation at a conference next week appears set to confirm many rumored details of the chip's architecture and characteristics.
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SAN JOSE, Calif.  --  Chip-maker Intel Corp. said Tuesday it will eliminate 10,500 jobs  --  about 10 percent of its work force  --  through layoffs, attrition and the sale of underperforming business groups as part of a massive restructuring.
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Freescale Semiconductor Inc. plans to cut at least 1,000 jobs from its worldwide operations, the company said as part of its second earnings report since it went public in July after being spun off from Motorola Inc.
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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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The struggling chipmaker will eliminate around 10 percent of its workforce -- most cuts coming in management, marketing and IT -- as part of its biggest restructuring since the mid-1980s.