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Intel cuts 10% of jobs

Friday, September 8th, 2006 @ 5:57 pm | Finance, Semiconductors

Intel has announced that it will cut 10% of its employees. This represents about 10,500 jobs and according to ThinkEquity Analyst Eric Ross, about a $3 Billion annual savings. This is likely a response to Intel’s dismal quarter and it’s need to improve margins. Intel has been attempting to focus on it’s core business following marketshare losses to AMD in the past few years and a huge fall in profitability. It has recently sold off its mobile chip division (Xscale), which has failed countless times to be profitable, to Marvell Technology Group. This will allow it to focus its attention on its main processor market.

Thiago Avila

 

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