Intel to announce 'massive layoffs,' says report

~~David~~ · Jul 17, 2002, 12:49 PM

Saw this over at [H]aRDOCP

SANTA CLARA, Calif. -- Amid possible cuts in capital spending, Intel Corp. is reportedly expected to announce “massive layoffs” and other drastic cost-cutting measures today, according to today's Wall Street Journal.
Craig Barrett, CEO of Intel, is scheduled to speak to employees after the market closes, speculating rumors of the layoffs, according to the report.
The company is also expected to announce its Q2 results today. Last month, Intel said it expects second-quarter revenue to be between $6.2 billion and $6.5 billion, compared to the previous range of $6.4 billion to $7.0 billion.

Read the full story HERE

Time · Jul 17, 2002, 12:51 PM

The economy stoopid!?...

Hope da market starts upward again.

Jul 17, 2002, 12:49 PM	#1
~~David~~ Banned Join Date: May 2002 Location: Atlanta Posts: 959 Rep Power: 0	Intel to announce 'massive layoffs,' says report Saw this over at [H]aRDOCP SANTA CLARA, Calif. -- Amid possible cuts in capital spending, Intel Corp. is reportedly expected to announce “massive layoffs” and other drastic cost-cutting measures today, according to today's Wall Street Journal. Craig Barrett, CEO of Intel, is scheduled to speak to employees after the market closes, speculating rumors of the layoffs, according to the report. The company is also expected to announce its Q2 results today. Last month, Intel said it expects second-quarter revenue to be between $6.2 billion and $6.5 billion, compared to the previous range of $6.4 billion to $7.0 billion. Read the full story HERE

Jul 17, 2002, 12:51 PM	#2
Time DriverHeaven Lover Join Date: Jun 2002 Posts: 110 Rep Power: 0	No shiitt! The economy stoopid!?... Hope da market starts upward again.