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Intel Says it Will Cut 10,500 Jobs

by , 5:00 PM EDT, September 5th, 2006

Intel on Tuesday announced that it will cut 10,500 jobs over the next year in response to competitive gains made by rival AMD, according to the Wall Street Journal (subscription required). The layoffs are about 10% of its workforce and will save the company around US$5 billion, but severance costs will add up to the neighborhood of $200 million.

Intel, which some pundits thought might cut up to 20,000 positions, announced the job cuts as part of a major restructuring effort that started earlier this year. They will come from management, marketing, and information technology.

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Close Name:Tiger Posts: 1018 Joined: 17 Jun 2003
Tue Sep 05, 2006 5:10 pm Subject: Hint to the world

Buy more Macs, Intel will rehire!


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Close Name:Biff Posts: 1479 Joined: 08 Apr 2004
Tue Sep 05, 2006 5:34 pm Subject:

Buy more INTC!

Too early to start shorting AMD though.


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Close Name:macspudster Posts: 17 Joined: 04 Nov 2003
Tue Sep 05, 2006 8:27 pm Subject: 10 months ago...

... Mac users and/or news sites such as TMO would've cared less about Intel; gee, how we change.


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