Intel to slash 1,000 management jobs

[deadparrot]

SAN JOSE, Calif. - Intel Corp. is cutting 1,000 management jobs as the chip maker tries to become more efficient amid stiff competition and weaker demand for personal computers.

The reduction, which will take several days to be carried out, is the latest action in a broad restructuring announced earlier this year, Intel spokesman Chuck Mulloy said Thursday. Analysts expect further job cuts as executives continue to scrutinize operations.

Mulloy declined to say how much money will be saved by the latest cuts or whether they would result in a charge against earnings. The company will provide more details Wednesday, when it reports second-quarter results, he said.

ThinkEquity Analyst Eric Ross, who recently released a report predicting Intel would reduce its work force by more than 10,000 employees, said the Santa Clara company is scrambling to slash costs as smaller rival Advanced Micro Devices Inc. encroaches on its highly lucrative core business of supplying the microprocessors that act as the brains of computers.

http://news.yahoo.com/s/ap/20060713/ap_on_hi_te/intel_management_cuts

[megatherium]

1. The Portland Oregon has more detail about this.

Intel's major base of operations is in Oregon. I have an old friend who works for Intel there (at the Ronler Acres campus). I hope he's not affected by this.

http://www.oregonlive.com/news/oregonian/index.ssf?/base/business/1152845721245850.xml&coll=7

[AlCzervik]

3. my neighbor is an it person up in the Folsom capmus, he's very

worried, i'm keeping my fingers crossed for him.

[Tesha]

2. Buried in the "Oregonian" article...

"(Analyst Lau) thinks Intel could still cut as many as 15,000 more jobs
companywide before its reorganization is through."

That Bush job-destroying machine just keeps rolling along!

Tesha

[OhioChick]

4. "Restructuring" or Outsourcing

of Management jobs now?

[fasttense]

5. Well great, 1,000 more people lined up for that McDonald's job I wanted.

:sarcasm:

[AlCzervik]

6. update on my neighbor-he got laid off yestereday afternoon via

the phone.