Intel announced that it will reduce the company’s costs by firing around 1,000 managers worldwide, a measure that «will speed up the whole process» of restructuring, justifies the company that has been losing market share to the competitor AMD, in statements to Bloomberg.
It remains to be seen whether this will be the only cut in company employees, with new decisions expected in the coming weeks.
For now Intel does not reveal the impact of the measure on the company’s accounts. The company’s spokesman, Chuck Mulloy, refers more details to the date of publication of the results for the second quarter – next July 19th.
In the last five years, the percentage of managers hired by Intel has grown the most, «when compared to the level of hiring for other positions,» says Chuck Mulloy. This is the biggest cut in personnel recorded in the past four years. In 2002, Intel laid off about two thousand employees.
In April of this year Intel announced a 38 percent drop in profits during the first quarter, caused either by the drop in demand for computers worldwide, or by the growing competitiveness that the market has been registering, mainly by the main rival , AMD.
Editorial note: The news was corrected in the title where it mistakenly referred to executives and non-executives.
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