Intel: No More Job Cuts Coming (INTC)

The weak economy is battering chip-maker Intel (INTC), who last week warned revenues could fall 20% quarter over quarter. But despite recent predictions the company might be cutting another 6,000 employees from its payroll, Intel now says no new cuts are coming.

Bloomberg: Intel Corp. said job cuts it made three years ago should help it ride out the economic slowdown, indicating that Chief Executive Officer Paul Otellini won’t have to eliminate a significant number of workers.

“While we haven’t made specific projections on the size of the workforce, the restructuring we did in 2006 has put us in a good position to weather the current economic environment,” Intel spokesman Tom Beermann said today in an e-mailed statement.

Intel, the world’s top chipmaker, slashed jobs in 2006 and 2007 after losing market share to Advanced Micro Devices Inc. Those cuts helped set it apart from other technology companies, which are shedding workers now.

See Also:
Intel Warns Revenues Will Be Down 20%
More Internet TVs: Intel-Yahoo-Toshiba-Samsung
Intel Firing 5,000-6,000? Q4 Even Worse Than Warned?

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