Intel: Labor Day is Over

A day after a long Labor Day weekend, Intel CEO Paul Otellini said he plans to cut the company's workforce by 10,500, or 10 percent, before the middle of next year and slash cost by $2 billion 2007 and $3 billion in 2008. These are the latest cost-saving measures he had promised Wall Street, which responded by saying, basically, "Yeah, that's nice, Paul. But really, you need to do more."