Intel axes 10,500 jobs worldwide

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By  Published  September 8, 2006

Intel is cutting 10,500 jobs over the next year as part of a drive to cut US$2 billion in costs, the chip giant said last week.

“These actions, while difficult, are essential to Intel becoming a more agile and efficient company, not just for this year or the next, but for years to come,” Paul Otellini, Intel’s president and chief executive officer, said in the statement announcing the cuts.

The job cuts will reduce Intel’s workforce to around 92,000 by the middle of next year, the firm said. Intel had revealed in July it was cutting 1,000 management jobs.

Intel has lost share in the chip market to arch-rival AMD, especially in the desktop and server categories.

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