Intel cutting workforce by 10,500 jobs
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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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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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The 'Barrett Hangover' Intel doesn't mess around when its sales slow. The chipmaker today revealed that it will fire 10,500 workers over the next year in the hopes of improving its bottom line.â¦
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Battered by a downturn in the housing market, the company is laying off about 10% of its workforce at its headquarters in Atlanta.
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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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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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SBC Communications  will cut 10,000 jobs from its workforce through the end of 2005 using attrition and involuntary cuts, the company said in a filing with U.S. market regulators on Friday.
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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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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.
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Contradicting fears that the semiconductor industry&#39;s pace of development is slowing, Intel Corp has announced that it has achieved a milestone in shrinking the size of transistors that will power its next-generation chips.
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Move is the latest setback for the chip Intel once billed as an industry standard.
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Dell Inc. said Thursday it will lay off 10 percent of its 88,100 workers in a continuing effort to improve profits.
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SANTA CLARA, Calif. -- Intel cut its third-quarter revenue estimates Thursday, providing the latest sign of the economy&#39;s doldrums.
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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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SBC Communications SBC.N may shed  more than 10,000 jobs from its workforce through the end of  2005 using attrition and involuntary cuts, the company said in  a filing with U.S. market regulators on Friday.
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Computer Associates will cut 800 jobs,  the software maker said on Wednesday, reducing its work force 5  percent in its biggest cost-cutting effort since 2001 amid  slack demand and falling prices for software and services.
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Cingular Wireless has said it plans to cut at least 10 percent of its workforce -- some 7,000 jobs -- over the next year and a half.