Intel said mulling up to 20,000 job cuts

[w¡n9Nµ7 §£@¥€r 123]

Intel Corp. reportedly will unveil plans to cut as many as 20,000 jobs as early as next week as part of a previously-announced restructuring plan aimed at reviving the world's biggest maker of computer chips.

[...]

The Wall Street Journal, citing former Intel employees and analysts, said the job cuts will range between 10,000 and 20,000 and that Intel plans to announce them internally next week.

Intel Chief Executive Paul Otellini said in April the company would conduct a wholesale review of its operations to "restructure and resize" the chip giant in the wake of several quarters of disappointing financial results. See full story.

http://www.marketwatch.com/News/Story/4L2J...p;dist=morenews

[Mr. Big Dog 10,747]

'tis the season.

[Ban Hammer 13,676]

i wonder if it will be by email

[Mr. Big Dog 10,747]

Keep in mind that 20,000 job-cuts announced to please Wall Street are not the same as 20,000 people receiving the pink slip after Labor Day.

[*Robert* 2]

Still needing more money are they?!

[meauxna 15]

Well that should be joyful for my local economy (not).

"Intel Oregon in Hillsboro is Intel's largest and most comprehensive site in the world, with approximately 17,000 employees."

http://tinyurl.com/rgho7

[Alex+R 0]

Still needing more money are they?!

That was downright anti-capitalist!

[w¡n9Nµ7 §£@¥€r 123]

The announcement is today... no mention of the '20,000' figure in this Reuters article...

Intel Corp., the world's biggest maker of microchips, is expected to announce major job cuts on Tuesday as part of a plan to trim $1 billion in costs and regain its competitive edge, analysts and media reports said.

With profits plummeting and rival Advanced Micro Devices Inc. (AMD.N: Quote, Profile, Research) steadily gaining market share, analysts have said Intel needs to cut between 9,000 and 15,000 people from its 100,000-strong global payroll.

[...]

Talk of a big work force reduction gathered steam last week with media reports saying that Intel planned to make an internal announcement on Tuesday.

The Santa Clara, California-based chip maker recently completed a three-month, top-to-bottom review of its operations that has already seen it fire 1,000 managers and sell off two unprofitable business units.

[one...two...tree 2,762]

The announcement is today... no mention of the '20,000' figure in this Reuters article...

Intel Corp., the world's biggest maker of microchips, is expected to announce major job cuts on Tuesday as part of a plan to trim $1 billion in costs and regain its competitive edge, analysts and media reports said.

With profits plummeting and rival Advanced Micro Devices Inc. (AMD.N: Quote, Profile, Research) steadily gaining market share, analysts have said Intel needs to cut between 9,000 and 15,000 people from its 100,000-strong global payroll.

[...]

Talk of a big work force reduction gathered steam last week with media reports saying that Intel planned to make an internal announcement on Tuesday.

The Santa Clara, California-based chip maker recently completed a three-month, top-to-bottom review of its operations that has already seen it fire 1,000 managers and sell off two unprofitable business units.

I wonder if companies can really operate effectively when they become so large? Obviously, those thousands of workers weren't bred into existence so how is it that so many can become suddenly expendible?

[w¡n9Nµ7 §£@¥€r 123]

Obviously, those thousands of workers weren't bred into existence so how is it that so many can become suddenly expendible?

My employer laid off 20% of our workforce last week. I have a series of strategy meetings set up today and the rest of this week where we will presumably come up with a strategy to deal with doing all this work with fewer people.

I already know what the strategy is going to be. More hours and offshoring hiring. And in the interim, deliverable quality will suffer.

[one...two...tree 2,762]

Obviously, those thousands of workers weren't bred into existence so how is it that so many can become suddenly expendible?

My employer laid off 20% of our workforce last week. I have a series of strategy meetings set up today and the rest of this week where we will presumably come up with a strategy to deal with doing all this work with fewer people.

I already know what the strategy is going to be. More hours and offshoring hiring. And in the interim, deliverable quality will suffer.

If corporations were majority employee owned, none of this kind of ####### would happen.

[Ban Hammer 13,676]

Obviously, those thousands of workers weren't bred into existence so how is it that so many can become suddenly expendible?

My employer laid off 20% of our workforce last week. I have a series of strategy meetings set up today and the rest of this week where we will presumably come up with a strategy to deal with doing all this work with fewer people.

I already know what the strategy is going to be. More hours and offshoring hiring. And in the interim, deliverable quality will suffer.

more.........with less. a common corporate mantra nowadays

[w¡n9Nµ7 §£@¥€r 123]

More hours and offshoring hiring. And in the interim, deliverable quality will suffer.

more.........with less. a common corporate mantra nowadays

On the face of it, a sound idea. If you can do more with less, you should.

Problem is when upper management forces decisions prematurely and you end up with a situation where you do less with less, for a period of time until you can figure out how to do more.

[rclouse 0]

i wonder if it will be by email

U R F1R3D LOL OMG

[w¡n9Nµ7 §£@¥€r 123]

10,500.

Chip-maker Intel Corp. said Tuesday a total of 10,500 jobs will be eliminated over the next year through layoffs, attrition and the sale of underperforming business groups as part of a massive restructuring.

The Santa Clara-based company said most of the job cuts this year will come from the management, marketing and information technology ranks.

http://biz.yahoo.com/ap/060905/intel_restructuring.html