Intel Set to Cut 10% of Its Workers
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By JORDAN ROBERTSON, Associated Press writer  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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SAN JOSE, Calif. -- With Intel Corp. apparently poised to announce the latest stage of its restructuring effort, speculation has centered not on whether the world's largest chip maker would be cutting jobs, but on how many.
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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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SBC, the second-biggest US phone company, plans to cut more than 10,000 jobs, or about 6% of its workforce, by the end of next year.
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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.
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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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At least 7,000 jobs are set to be lost at computer firm Dell after it said it would cut its global workforce by about 10%.
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As expected, Intel announced late Tuesday a new wave of job cuts as part of the company's reorganization plan, first detailed last April. 10,500 jobs will be cut over the next two years, and Intel expects to save $2 billion by the next of next year.
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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 Corp. , 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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Cingular Wireless, the nation's largest cellular phone company, plans to cut about 10 percent of its work force, or 7,000 jobs.
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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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Seeking further efficiency improvements, Intel said it is laying off up to 10% of its IT staff -- a plan that was described in detail by a blogger using the name "Intel IT Guy."
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Shares of Intel Corp. fell nearly 3 percent Wednesday, a day after the world's largest chip maker announced more than 10,000 job cuts that some investors believed were not severe enough.
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With Intel Corp. apparently poised to announce the latest stage of its restructuring effort, speculation has centered not on whether the world's largest chip maker would be cutting jobs, but on how many.
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Troubled company will trim 5% of work force due to stiff competition, soft business software market. NEW YORK  - Computer Associates said Wednesday it would cut its work force by 800 jobs, or 5 percent
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National Semiconductor Corp.  NSM.N on Thursday said it would cut about 6 percent of its  work force to reduce costs amid a chip supply glut, and will  book severance charges of between $22 million and $26 million.