Intel Total Job Cuts: 10,500

Davis, Jessica
September 2006
Electronic News;9/1/2006, p18
Trade Publication
The article reports that Intel has retrenched 10,500 workers as of September 2006. It plans to reduce its employees by about 95,000 in 2006 and 92,000 in 2007. The layoff is the results of the restructuring efforts of the company. Tim Luke, managing director at Lehman Brothers, predicts the sale of the NOR flash division of the company. Intel expects that the workforce reduction will lead to savings in merchandise expenses, capital and materials.


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