Intel Cuts 10k+ Jobs to Make Money
September 6th, 2006
Intel plans to cut 10,500 jobs in order to save $3 billion by 2008. The job cuts, which are purportedly a result of market share loss to rival AMD, make up some 10% of Intel’s workforce. Rumor has it that the 10k mark is on the lower side, and Intel may have to cut up to 20k jobs to remain financially competitive. According to Intel, job cuts are not to be focused to any particular region, and although we were thinking the more expensive labor will be the first to go, Intel announced plans to eliminate some 2k jobs in assembly, packaging and testing as reported by the Malaysian press recently - probably safe to assume these cuts were in Malaysia.
Intel Announces 10,500 Job Cuts [DigitalTrends]
1 Comment Add your own
1. RisingSunofNihon | September 6th, 2006 at 3:12 am
I’ve been reading about Intel the past few days and am surprised at how much trouble they appear to be in. They’re cutting a lot of jobs now, but that’s not going to do anything to help them remain competitive and profitable in the long run. They’ll still have to revise their overall strategy and put a premium on innovation if they want to reclaim some market share from AMD.
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