Intel tightens belt, cuts 10,000+ jobs

We don't normally write up layoff and downsizing news -- man, what a downer -- and we kind of looked away when HP laid off 15,000 last year, but we have to face facts: that was a big deal, as is Intel's announcement today that they'll be releasing 10,500 by this time next year in an effort to shed $3 billion in operating costs by 2008. So yes, those rumors are in fact true. We're not sure how this will affect their bottom line and future product offerings (or if that's even an appropriate thing to discuss after the loss of so many jobs), but it's a hard fact about the industry; sometimes you eat the bar and sometimes the bar, well, he eats you.

[Raider @ Sep 5th 2006 6:44PM]

Love the picture!

[Taylor Alexander @ Sep 5th 2006 7:03PM]

ouch

[Mark @ Sep 5th 2006 7:09PM]

I heard earlier this year, when first announced, a large portion of this will be from the Folsom, CA campus which deals alot with their silicon/flash technology. Shame...that's where I used to live. But they're also largely responsible for making it unaffordable to live in that area.

[Socko @ Sep 5th 2006 7:09PM]

a buddy of mine works there; does anyone know if its us? or international

[Mull @ Sep 5th 2006 7:09PM]

The new motto and the last sentence made my day.

[The Dude @ Sep 5th 2006 7:11PM]

Is that some kind of eastern thing?

[bob @ Sep 5th 2006 7:20PM]

anything to do with dell switching to amd?

[fredouil @ Sep 5th 2006 7:24PM]

i dont really get how anyone can be masochistic enough to work with big IT companies.

what s the point to study, earn a crap salary, stay poor, and be fired like shit just to create some waves in the stock price.

They pretty much deserve to be fired, they all know what will happen to them as soon as the sign their contract.

[empty spaces @ Sep 5th 2006 7:54PM]

had a friend who used to work there in the pre-dot-bomb era. he said his group was given the option to let go 1 person or everyone take a 10% pay cut. They opted for the pay-cut. hope people still get that sort of option.

[Walter Lawrence @ Sep 5th 2006 8:12PM]

There's just one thing, Dude.

Do you have to use so many cuss words?

[Rod Elder @ Sep 5th 2006 9:18PM]

Its really like 5500 jobs, the others came from the sale of two business units and 1000 managers who got sent packing a month ago.

[Tyler @ Sep 5th 2006 10:21PM]

My uncle worked for intel for 16 years.... He was laid off in July.... Its sad. These days you cant be loyal to the company because they arent loyal to you. EVER.

[Min Thu @ Sep 6th 2006 12:31AM]

Many people are going to loose their jobs. What a sad news for them!

[mike503 @ Sep 6th 2006 12:38AM]

Listen to Rod - he knows what he's talking about.

The press isn't explaining it consistently and properly.

5,000 people have been laid off already through attrition, managerial layoffs and the sale of some sub-companies.

5,500 are left. NOT 10,500.

This is public knowledge, probably not shared properly except on some local TV channels to the Portland area.

[minitml @ Sep 6th 2006 1:22PM]

AMD fanboys, go figure...anyway, i heard (briefly) they're cutting 10 000 or so jobs to compete with AMD. They figure that with operating-expense reductions and cost savings would sustaine competition with AMD...they want to prolong "pricing declines" over a certain period of time...

[WD Milner @ Sep 6th 2006 1:24PM]

I can't help but wonder if this is at least in part due to the anticipated (now fact) price ware with AMD over the desktop processor market. With the availability of C2D parts, both companies have been dropping prices by what in some cases is painful (for them) amounts. The consumer benefits but there is always a price to be paid for such things.

[Pamela Slim @ Sep 9th 2006 1:58AM]

I was interested to read this also, and had some thoughts on what others in similar IT companies can do to make sure they don't fall victim to surprise and dismay if their job is cut:
http://www.escapefromcubiclenation.com/get_a_life_blog/2006/09/there_must_have.html

Even though we all know that no corporate job is secure, somehow we delude ourselves into thinking it won't be us this time. The time to start preparing for a layoff is when you are totally convinced that your company is strong and your job is secure.

[Alex D @ Sep 10th 2006 8:15AM]

I agree with Tyler. Before, someone could be proud of the company they were working at, but now, they're too busy trying to keep their jobs. When a company is turning in a profit/has increasing sales, it should not be firing on such a scale

just my two cents...