Intel Could Lay Off Thousands Next Week

Intel, which in April said it would begin figuring out how to cut costs and increase efficiency as it struggles with increased competition from rival AMD, could lay off as many as 10,000 or even 20,000 employees early next week, according to reports at the New York Times (subscription required) and MarketWatch. The company currently employs 100,000 people.

An Intel spokesman, Chuck Mulloy, told the latter that his firm would not comment on "current speculation on the timing of what we may or may not do. We are on track to keep our commitment to report on our structural and efficiency analysis by the end of September."

The New York Times cited an anonymous employee who said that Intel CEO Paul Otellini sent out a companywide email on Thursday in which he said that he would address workers in a Tuesday Webcast. Intel has previously said that it is in the midst of a study to reduce costs, the results of which would be disclosed by the end of this month. Mr. Mulloy told the newspaper: "We said that we intend to disclose the results of the structure and efficiency study during the quarter and weire on track to do that."