Intel Expected To Cut Jobs

Paul Otellini, Intel's CEO, is expected to announce massive layoffs early next week. Sources “familiar” with the plan say the layoffs could be as high as 10,000 jobs.

The Santa Clara, Calif.-based chipmaker, having suffered several financially disappointing quarters, launched an internal analysis in April to find ways to increase its efficiency. Otellini is scheduled to announce the results of the analysis, including the layoff, on Tuesday after the stock market closes, sources familiar with the plans said.