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Print 21 comment(s) - last by TwistyKat.. on Sep 5 at 7:06 AM

More job cuts in an effort to boost profits and efficiency

According to reports, Intel could be announcing a major job slashing campaign as close as next Tuesday. In fact, as many as 10,000 jobs are expected to be eliminated, equating to roughly 10% of Intel's entire global staff force. Intel has been conducting internal audits and analysis about itself since April of this year. The company commented that it had found itself to be lacking in efficiency in many areas, mainly in sales and marketing. Intel mentioned that its ratio of sales to marketing staff was too high, and it's likely the majority of the jobs being cut will be from marketing.

Intel's CEO Paul Otellini is expected to announce the results of the internal analysis this Tuesday, after stock markets close. Although current details of the layoffs are scarce, Intel mentioned that layoffs are expected. The company overall did not perform well financially in the last several quarters. Although news of upcoming processor releases and the release of Core 2 processors was a magnificent marketing boon for Intel, the company still faces challenges.

DailyTech previously reported that Intel gave roughly 1,000 managers the pink slip in an effort to improve company efficiency -- "too many chiefs and not enough Indians" as Danny Hsu, General Manager of Tyan once said. Intel this year sold its Xscale processor division to Marvell. The Xscale series was a successful line of processors for hand-held devices. Intel's media and signaling division also flew the coop earlier this year. Eicon purchased the division from Intel.



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RE: INTC
By stromgald on 9/1/2006 5:35:52 PM , Rating: 3
It might be boring, but its fairly safe since Intel is a fairly stable company (but then again, that's what they said about Enron). $23 might not seem like much, but from $18, that's over a 25% return in less than a year. Not too bad if you ask me, and alot better than the 6% return you get on CDs, savings accounts, bonds, etc.


RE: INTC
By hans007 on 9/3/2006 6:27:00 PM , Rating: 2
buying intel is amuch better move than buying sun. intel even pays a 2% dividend.

i mean the risk reward on this is fantastic, it could concievably be $25 at the end of the year. in fact last december it was $27 and they've corrected many of the problems that led to their fall to $17ish a month ago.

the back to school and xmas seasons are just about to happen.

and yes im putting my money where my mouth is, i have a ton of intel shares.


RE: INTC
By TwistyKat on 9/5/2006 7:06:28 AM , Rating: 2
quote:
buying intel is amuch better move than buying sun


Buying Intel is less risky than buying Sun - not better. Any future reward with Intel shares is not something you are going to be able to brag about at a cocktail party.

Boring.



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