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Politics : Idea Of The Day
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To: IQBAL LATIF who wrote (39834)6/6/2001 7:55:11 AM
From: IQBAL LATIF  Read Replies (2) of 50167
 
Intel Corp Executive Vice President Paul Otellini said in an interview published on Wednesday that the semiconductor giant should be able to ride out the current sector slump without making further job cuts.

``We feel comfortable with the measures we have introduced,'' he said in an interview with the Financial Times Deutschland. The world's leading chipmaker said in March it would shed 5,000 jobs. Last month it reported a 64 percent year-on-year fall in first-quarter profits and forecast that second-quarter sales would fall about 20 percent from last year.

It is due to give a preliminary report on the second quarter, which ends on June 30, on Thursday.

Otellini, who heads the company's key Intel Architecture Group which recently launched the Itanium 64-bit chip for high-end servers, said Advanced Micro Devices was the only serious rival in its core personal computer chip business.
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