July 13, 2006 10:32 AM PDT
Intel to lay off 1,000 managers--more to come
Intel CEO Paul Otellini has finished his review of the company's operations and he's not a happy man.
The company will lay off 1,000 managers. This will combat "slow and inefficient decision making" at the company, he said in an internal memo issued inside the company earlier today.
More layoffs could come. The memo says it's only a first step in the process to making Intel more competitive.
American Technology Research issued a report today stating that investors are hoping to see 10,000 to 15,000 layoffs ultimately. Intel ballooned up from 85,000 employees at the end of 2004 to 100,000 at the end of 2005.
Intel didn't respond to comment yet.
