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Intel Releases Workers

According to what was reported in July, Intel Corp. is about to release about 15,000 workers next week as part of a major "renovation" of the company. Intel, who has around 100,000 employees worldwide, has delayed the move that was intended to be in July. Instead, the chip giant fired 1,000 managers as part of an attempt to cut $1 billion in costs.

It`s been a chaotic year so far for Intel. Hit hard by the PC slowdown and hard competition, Intel said in April that it planned to restructure the company. CEO Paul Otellini told analysts he planned an overhaul that would affect "every part" of the company. This way, Intel has begun to discard its unprofitable operations. The recent sale of Intel`s XScale business to Marvell Technology reduced Intel`s workforce by 1,400, he said.

So what will be next? Research Gartner Inc. believes that Intel will sell its NOR flash memory unit by the end of the year. The operation has lost money for three straight years. Intel recently expanded its efforts in the server market?and for good reason. For some time, the chip giant has been losing market share in the server segment to AMD.