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Electronics Production | April 28, 2006

Intel has to save one billion dollars

Intel has to cut one billion in costs during the next 90 days according to what the company´s CEO Paul Otellini said on an analysts meeting.
"No stone will remain unturned or unlooked at. You will see a leaner, more agile and more efficient Intel", Otellini said.

The reason for the needed cost reductions is the declining PC sales. Otellini expects the company´s revenues to decline by 3% this year, to $37.64 billion. Inte reported weakend earnings by 38% in the first quarter 2006.

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