Fergie's Tech Blog

Intel to Lay Off 10,500 in Major Restructuring

A Reuters newswire article, via MSNBC, reports that:

Chip-maker Intel Corp. says it is laying off 10,500 employees as part of a massive restructuring as it seeks to reverse sinking profits and regain market share.

With profits plummeting and rival Advanced Micro Devices Inc. steadily gaining market share, analysts have said Intel needs to make the massive cuts from its 100,000-strong global payroll.

This marks the largest reduction in Silicon Valley since Sun Microsystems, a maker of server computers, said in May it would sack up to 5,000 workers.

posted by Fergie @ 9/05/2006 01:53:00 PM