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Intel to Cut 1,000 Managers

Intel is laying off about 1,000 managers -- representing about 1% of its workforce -- worldwide as part of a previously announced restructuring program, the company said on Thursday. I know a good number of managers at Intel and I hope they all will still have a job come the end of next week.

The job cuts will begin immediately and will happen over the next few days, company spokesman Chuck Mulloy said. The layoffs are being done to reduce costs and to "improve decision making," he said. The chipmaking behemoth plans to release second-quarter earnings next week, he said. The outlook the company will provide then for coming periods will reflect the benefits of the job cuts, he said.

The Street

Posted by | Fri, Jul 14, 2006 - 12:25 AM