Intel tightens belt, cuts 10,000+ jobs

Ryan Block
R. Block|09.05.06

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Ryan Block
September 5th, 2006
In this article: downsizing, intel
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.
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