Intel to send-off 1,000 managers

Intel has announced that it is sending off 1,000 managers worldwide, in an effort to be more competitive.

According to ZDNet Australia, "Intel spokesman Chuck Mulloy confirmed the layoffs Thursday, saying they would "both reduce costs and improve decision-making and communications." He didn't disclose the financial costs or benefits of the cuts, but said Intel plans to share more details July 19 when it discusses financial results for the last quarter."

With competition from rival AMD getting increasingly fierce and the two years of sluggish performance, Intel hopes that this restructuring effort will provide a positive boost for the company.