My Way Finance: "Intel cutting 10,500 jobs
Tuesday September 5, 7:35 PM EDT
By Scott Hillis
SAN FRANCISCO (Reuters) - Intel Corp. (INTC) said on Tuesday it is cutting 10,500 jobs, or about 10 percent of its work force, as part of a plan to become more competitive against a resurgent Advanced Micro Devices Inc. (AMD).
The cuts, along with other cost-cutting measures stemming from a three-month top-to-bottom review of operations, would help the technology giant save $1 billion this year, $2 billion next year, and $3 billion in 2008, the chip maker said."
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