Intel To Cut 1,000 Management Jobs

Intel Corp. said it will lay off 1,000 managers, about one percent of its work force, as it looks to streamline its business amid heated competition with rival Advanced Micro Devices.

The world's biggest chip manufacturer said in April that it would conduct a top-to-bottom review of its operations.

In June, Intel said it would sell its money-losing communications chip business to Marvell Technology Group Ltd. for $600 million as it attempted to refocus on personal computer processors and related chips.

Other poorly-performing units that could be cut includes one that makes flash memory chip commonly found in mobile telephones, as well as the Itanium chip for server computers that has failed to develop a strong interest in the market.

Intel's stock has fallen 33% in the past year as it continues to lose market share to AMD, whose shares have risen nearly 17% over the same time.