Intel job cuts coming, says analyst in EETimes.com

An analyst said on Friday (Dec. 5) he expects Intel Corp. to cut 6 to 7 percent of its total headcount, or roughly 5,000 to 6,000 employees, as part of a series of cost-cutting moves that could save the company as much as $1 billion annually.

Berger expects Intel to further cut costs by announcing there will be no "focal" raises this year. Employee bonus payments, which are largely based on profitability metrics, will be down in 2008 and 2009, he said.

Wonder how this will pan out... cross my fingers and hope for the best. :)

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