Intel rumored to be laying off 10,000

Intel may be preparing to announce the major portion of its restructuring efforts next Thursday. According to News.com, Intel will be cutting up to 10,000 jobs and announce such a move next Tuesday after market close.

If Cnet’s sources are right, the number of total layoffs would exceed 10% of Intel’s workforce.

TG Daily reported in late May that Intel could be laying off as many as 16,000 employees and could focus the cuts especially on marketing initiatives. At that time did not comment on job-cutting rumors, but mentioned that Intel "is in the midst of the most comprehensive review of its business structure" to shape the company so it will be "more nimble." According to Dundas, details about the steps being taken by the company will be announced within 90 days of the initial restructuring announcement, which was made on 27 April.

Just prior to the announcement of the Q2 results, Intel announced the sale of its communications processor business to Marvell and that it would lay off 1000 managers across the board.