Items tagged with restructuring

Hot on the heels of its latest financial reports, which showed the company beating estimates for both earnings and revenue, but offering weaker than expected guidance for Q2, Intel has announced a significant workforce reduction that will result in approximately 12,000 job cuts over the next year.The restructuring initiative was outlined in an e-mail from Intel CEO Brian Krzanich. In the email, Krzanich states, “Our results over the last year demonstrate a strategy that is working and a solid foundation for growth. The opportunity now is to accelerate this momentum and build on our strengths.” Krzanich is speaking of Intel’s plan to shift focus from standalone, client PCs, to growth markets like... Read more...
AMD's initial layoff announcement yesterday implied that the dismissals would occur across the company's global sales force. While that may still be true, it has become clear that AMD has slashed its PR and marketing departments in particular. The New Product Review Program* (NPRP) has lost most of its staff and Director of Product Planning, Carell Killebrew, who played an integral role in rescuing AMD's GPU division after the disaster of R600, also got the axe. Key members of the FirePro product team are also gone. None of the staff had any idea that the cuts were coming, or that they'd focus so particularly in certain areas. An email, purportedly from CEO Rory Read, sheds additional light on... Read more...
Ziff Davis, one of the pioneering PC publications, has announced plans to restructure in the wake of the decision to not pay its interest portion of the payment on its notes.Ziff Davis presently operates numerous publications such as the Games For Windows Magazine, Electronic Gaming Monthly, 1Up.com, Filefront, and GameTap. “Jason Young, CEO of Ziff Davis Media, said "We are actively pursuing a considered and reasonable course of action to improve our capital structure as quickly as possible. Amidst a challenging print environment, our digital and event operations are doing well with our interactive segment growing at a faster rate than the industry. We are committed to making improvements... Read more...
Intel Announces Restructuring Expects to Reduce Costs and Operating Expenses by $2 Billion in 2007, by $3 Billion in 2008 SANTA CLARA, Calif., Sept. 5, 2006 - Intel today announced plans for restructuring following an analysis of the company's structure and efficiency. As a result of the restructuring, the company expects to generate savings in costs and operating expenses of approximately $2 billion in 2007. In 2008 the company expects savings from this restructuring to grow to approximately $3 billion annually. The savings are a combination of non-workforce related steps and a significant reduction in Intel's workforce. The company's employee population will decline to approximately... Read more...