Intel launches mass layoff plan for ten thousand people

Intel announced the start of its largest scale retrenchment plan in 21 years in September. Starting from October 10, the first wave of more than 400 employees whose positions will be cut were mainly global marketing staff. This includes 1000 managers that were cut in July and over 5000 employees affected by the sale of communication processor, telecommunications, and optoelectronic network component businesses. According to those Intel employees who were laid off in this wave, the final plan to lay off more than 4000 other employees is expected to be completed by the end of October...