Business & Finance
News
7/17/2006
10:05 AM
50%
50%

Intel Cans 1,000 Managers

Intel is starting job cuts. The company told employees last week that it will lay off 1,000 managers in a matter of days across business divisions as the start of an effort to cut $1 billion in costs. The job cuts could reach 10,000--or about 10% of the company's workforce--by the time a "strategic review" is complete in August, predicts Tim Luke, an analyst with Lehman Brothers.

Intel CEO Paul Otellini revealed plans in April to restructure the company, which has been hit hard by a PC slowdown and stiff competition, telling analysts he planned an overhaul that would affect "every part" of the company.

Comment  | 
Print  | 
More Insights
Register for InformationWeek Newsletters
White Papers
Current Issue
InformationWeek Tech Digest, Dec. 9, 2014
Apps will make or break the tablet as a work device, but don't shortchange critical factors related to hardware, security, peripherals, and integration.
Video
Slideshows
Twitter Feed
InformationWeek Radio
Archived InformationWeek Radio
Join us for a roundup of the top stories on InformationWeek.com for the week of December 14, 2014. Be here for the show and for the incredible Friday Afternoon Conversation that runs beside the program.
Sponsored Live Streaming Video
Everything You've Been Told About Mobility Is Wrong
Attend this video symposium with Sean Wisdom, Global Director of Mobility Solutions, and learn about how you can harness powerful new products to mobilize your business potential.