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Last updated at: (Beijing Time) Wednesday, March 12, 2003

Intel Cuts 4,700 Jobs in 2002

Intel Corp, the world's largest microprocessor maker, cut 4,700 jobs in 2002 or 700 more than it had planned, said the company's annual report released on Tuesday.


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Intel Corp, the world's largest microprocessor maker, cut 4,700 jobs in 2002 or 700 more than it had planned, said the company's annual report released on Tuesday.

Intel, facing a sluggish computer market, had said in July 2002that it planned to cut 4,000 jobs, or 4.8 percent of its work force, primarily through attrition and voluntary separation programs.

But its annual report showed that it actually cut its work force by 4,700 jobs, or 5.6 percent in 2002, ending the year with 78,700 employees.

The company also disclosed that its net income for 2002 would have been cut by 1.17 billion US dollars had it recognized the cost of employee stock options. Net income would have been 1.95 billion dollars for 2002 instead of 3.12 billion dollars as reported.

On Wednesday, Intel will officially launch its new Centrino mobile computer chip, which offers built-in Wi-Fi, or Wireless Fidelity, capabilities. A 300 million dollar advertising blitz is already underway to promote the new chip, on which Intel has pinned its hopes to boost its chip sales.


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