Intel: More layoffs coming
Intel’s Q3 result is showing a new strength of Intel as being much more dynamic and efficient as it was one year ago. Since April 2006, the company has trimmed its workforce by about 14,500 people and said that its current headcount is about 88,000. That number is down 12,000 year-over-year and 2000 over Q2 2007.
And the company isn’t done quite yet.
During the Q3 conference call held earlier today, chief financial officer Andy Bryant, newly appointed to the position of chief administrative officer, described the status of the company’s restructuring as a “milestone” but not as the finish line. Intel plans to lay off another 2000 employees to bring the total down to 86,000.
The number of layoffs exceed previous estimates and are even slightly above the number we received from industry sources in May of last year. Back then, we were told that Intel would be laying off up to 16,000 employees.