SAN FRANCISCO – Intel Corp. (INTC), the world's biggest microchip maker, may cut up to 10 percent of its work force as early as next Tuesday, a technology news site said on Thursday, citing sources familiar with the plans.
Analysts have said the Santa Clara, California-based firm is almost certainly preparing to slash its 100,000-strong work force, and the size and timing of the cuts have been a topic of heated speculation in recent weeks.
Intel spokesman Chuck Mulloy declined to comment on the specifics of the report, which was carried on News.com, a technology news site run by CNet Networks.
"We will keep our commitment to disclose the results of our efficiency study by the end of the third quarter," Mulloy said.
Previous estimates by Wall Street analysts have put the size of the cuts anywhere from a few thousand to 16,000 employees.
The cuts would be the latest in a string of actions taken by Intel Chief Executive Paul Otellini to try to restart growth at the company, which posted a 56 percent drop in net profit for its second quarter.
In July, Intel fired 1,000 managers in its biggest work-force reduction in 4 years.
The company has also moved to jettison unprofitable units.
In June, Intel sold its communications chip business to Marvell Technology Group Ltd. (MRVL) for $600 million, and in August sold its telephony technology unit to a private Canadian firm for an undisclosed amount.
Intel shares fell 1.4 percent to $19.57 on the Nasdaq.