It's one thing to put the kibosh
on whispers of across-the-board layoffs; it's another to go and fire twice
the amount rumored
. Sure enough, a recent report from the AP
notes that the California-based chipmaker is expecting to layoff 10-percent of its 16,000-person workforce by Q3 2008. Additionally, the outfit is trimming its sales outlook for Q1 due to "poor sales in all of its business segments," and as if that wasn't enough, it's expecting to "incur an [undisclosed] restructuring charge in the second quarter as a result of the layoffs." Ouch.
[Via The Street
, thanks Aaron]