Otellini to webcast Intel jobs news on 5th

SOURCES INSIDE Intel said that CEO Paul Otellini will initiate an internal webcast relating to job cuts on the 5th of September.

However, while this webcast will be for all and sundry at the chip giant, the sources said that even mid-level managers are likely to get the news before this.

This is, we believe, the final stage of a widespread restructuring at Intel initiated in summer. It follows dissatisfaction at board level with the performance of the chip firm over the last couple of years.

Figures for the number of layoffs are not yet known, but as we reported last month, they're likely to be in the 10s of thousands.

* THE IRISH Post said that some cuts have already happened at Intel's plant in Leixlip, with staff already going. For more, go here.