Intel slashes 1,000 jobs

As part of its already-announced cost-cutting initiative, Intel is prepping to layoff off 1,000 corporate managers across its global operations. CEO Paul Otellini says the heavy layer of management currently in place slows decision-making and business response to market and customer needs. And the vendor's leader warns it could just be the first wave of layoffs as Intel scrambles to save money and regain some industry traction against fierce competition from AMD.

For more on Intel's cost cutting efforts:
- read this article at CNet News.com

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