Santa Clara (CA) - Intel today announced a widely expected major restructuring process which will involve laying off and "re-deploying" employees. The company plans to shrink its workforce by 7500 people until the end of the year and by another 3000 during H1 of 2007. "Most" job reductions this year will occur in management, marketing and information technology functions, Intel said.
Shawn Fanning, founder of the Napster file-sharing service, gets another opportunity to shape the music business: Snocap, which he co-founded in 2002, today announced that it will offer artists and labels tools and storefronts to sell music to the MySpace community.
Revenues from semiconductors saw an 11.5% year-over-year increase in July. Sales of $20.1 billion were also up 1.8% over the June result of $19.8 billion.
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.
Intergraph said it has signed a "definitive agreement" to be acquired by an investor group led by Hellman & Friedman and Texas Pacific Group in a transaction valued at approximately $1.3 billion.
Getting fired is traumatic enough, but imagine getting fired by email. Radio Shack emailed layoff Tuesday morning to 400 of its workers at the Forth Worth Texas headquarters. The company had warned on 10 August that it would cut hundreds of jobs.
AT&T said today it would set up and pay for credit monitoring services, after having notified those who may have been affected. In the company's statement this morning, AT&T chief privacy officer Priscilla Hill-Ardoin said, "We recognize that there is an active market for illegally obtained personal information."
Eric Schmidt, chief executive officer of Google, has been elected to Apple's board of directors.
In-Q-Tel, the CIA's venture capital firm, is hiring a former Intel vice-president to lead the company.
Chicago (IL) - Amazon.com's pre-order pages are revealing prices for Microsoft's upcoming operating system Windows Vista. The new features and especially Microsoft's Aeroglass user interface won't be cheap: Plan on spending at least $100 for the least expensive upgrade and $400 if you are aiming for the full feature set.
Six out of ten notebooks shipped in the second quarter of this year integrated a wide-aspect ratio screen, according to a report released today by Displaysearch.
Corel today said that it has bought a slice of the HD media pie. For about $196 million, the company which not too long ago was only known for its Corel Draw vector graphics software, adds media software maker Intervideo to its growing portfolio of applications.
In a deal announced this morning, Google and Ebay will, beginning early next year, jointly produce "click-to-call" functionality, with an integration plan that should include Google Search, Google's integrated shopping site Froogle, eBay's online auction service, and Google's own Talk IM client (even though Skype already has one).
Chicago (IL) - A report published in a German newspaper today suggests that Electronic Arts (EA) could snuggle up with Crytek closer and beyond the distribution deal for the upcoming Crysis first-person-shooter. The developer of FarCry would be the second German game developer EA would be acquiring within a short period of time.
Microsoft today announced the final results of its "Dutch Auction" tender offer in which the company agreed to purchase 1.5% or 154,517,593 shares of its outstanding common stock at a price of $24.75 per share, totaling a cost of $3.8 billion.
IBM's spending spree continues as it plans to buy Internet Security Systems for $1.3 billion Dollars. IBM will pay $28 Dollars for each share of the network security service provider and will gain almost 11,000 worldwide customers.
Another major deal in the very-fast-growing Web video sharing field was announced today, with Sony Pictures acquiring Grouper Networks, proprietor of one of YouTube's most intriguing competitors. The deal may make Sony content more visible in Grouper's digital playground. But if that's not what users want, will Sony be getting its money's worth?
Gateway today said that it has received "an unsolicited expression of interest" from Lap Shun (John) Hui to acquire its retail operations.
San Mateo (CA) - News sources today covered an announcement made by YouTube CEO Chad Hurley in the Hollywood Reporter, saying the company will launch the first of what it hopes to be many "brand channels" where advertisers and YouTube partners can pitch their wares through opt-in videos. Users may select these videos, and even rate them and comment just as they would for unsolicited items.
Yahoo was able to substantially increase its search market share during July, while Google saw its share dropping for the first in several months, according to a report released by market research firm Nielsen Netratings.