Intel Corp. to cut 10,500 jobs
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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.
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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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Chipmaker's efficiency plan could hit as many as 10 percent of employees in announcement expected Tuesday.
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SEPTEMBER 29, 2004 (IDG NEWS SERVICE) - Computer Associates International Inc. plans to cut 800 positions worldwide, 5% of its workforce, in the hope of shaving $70 million annually off its operating costs.
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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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SBC Communications SBC.N 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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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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By Kimberly S. Johnson, The Denver Post  Sep. 6--Intel Corp. said Tuesday it is cutting 10,500 jobs, or more than  10 percent of its global workforce, to reduce costs, as its chief competitor,  Advanced Micro Devices, gains more of the microprocessor market.
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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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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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U.S. stock futures pointed to a lower   market open on Wednesday after Intel Corp. INTC.O said it   would cut 10,500 jobs, at the low end of expectations, though   news that Ford Motor Co. F.N named an outsider as its new   chief executive could lend support to share prices.
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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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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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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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(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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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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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.