Intel has to save one billion dollars

"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.