We use cookies to provide you with a better experience. If you continue to use this site, we'll assume you're happy with this. Alternatively, click here to find out how to manage these cookies

hide cookie message
 
74,953 News Articles

Intel may lay off thousands next week

Reports talk of 'restructuring plan'

Intel will announce the results of an internal review of its operations next week that could result in thousands of layoffs at the company, according to published reports.

CEO Paul Otellini told employees in an email yesterday that he would reveal the results of the review in an internal webcast next Tuesday, The New York Times reported, citing an unnamed Intel employee.

A spokesman for Intel said the company is on track to announce a restructuring plan before the end of the third quarter, meaning some time this month. "But we are not announcing plans to do anything at this stage," Intel spokesman Chuck Mulloy said, dismissing the talk of layoffs as "speculation".

Intel warned in April that its profits would fall sharply this year and said it would restructure the company to cut spending by more than $1bn (about £535m). "We are going to restructure, repurpose and resize Intel for the future," Otellini said at the time.

The company has battled this year with a slump in the growth rate of PC sales and from increased competition from AMD, which has been increasing its share of the market, particularly in servers.

Intel has vowed to claw the market share back with a new generation of dual-core microprocessors that it started rolling out in June.


IDG UK Sites

Samsung Galaxy Note 4 release date, price and specs 2014

IDG UK Sites

iPhone 5s review: why the iPhone 5s is still the best phone you can buy in 2014

IDG UK Sites

Passwords don't work: here's four ways to fix them

IDG UK Sites

Developers get access to more Sony camera features