Intel's job cuts were deeper than expected in 2002

Intel's job cuts were deeper than expected in 2002

Intel cut 700 more jobs than it originally planned for 2002. Layoffs totalled 4700, according to the company's annual report

An Intel spokesperson said the layoffs were across the board, primarily due to attrition and voluntary separation.

The company originally announced in July 2002 that it planned to layoff 4000, or 4.8 per cent of its workforce, due to slowed sales and the weakened economy.

With the additional 700 job cuts, Intel actually reduced its workforce by 5.6 per cent in 2002, ending the year with 78,700 employees.

Looking ahead, the company said in the report that its performance for 2003 would depend on the pace of recovery in the industry and in the economy.

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