Intel to cut jobs next week

IntelA disaffected employee has leaked an internal Intel memo to a local paper and the corporation is expected to lay off a number of staff next week.

The Oregonian said earlier this week that the company – which has 106,000 employees worldwide – said the job cuts will start on June 15th, and Intel has already targeted the people who will lost their jobs.

Intel, which paid a staggering $16.7 billion for Altera earlier this week, has been struggling because people don’t seem to want to pay through the nose for laptops and X86 based desktops any more.

The memo said that Intel is going to look at its investments, slow down filling job vacancies and will deliver a “performance based involuntary separation package”.

It’s not thought that fully fledged CEO Brian Krzanich will lost his job. Intel has been planning to use the axe for some time, the memo said.

Intel has told some managers this week how to break the bad news to those who have to go.

The memo said that the unlucky ones will get at least two months’ pay and other remuneration, depending on what the corporation believes they merit.

Intel won’t comment on unannounced layoffs.