Intel Plans Fresh Round of Layoffs, Other Cost Cuts

Intel plans a fresh wave of layoffs in the wake of a steep decline in revenue over the last six months. The chipmaker, Oregon's largest corporate employer, blames a weak global economy. From a report: "We are focused on identifying cost reductions and efficiency gains through multiple initiatives, including some business and function-specific workforce reductions in areas across the company," Intel said in a written statement. "These are difficult decisions, and we are committed to treating impa