Chipmaker Intel has announced that 1,000 managerial posts worldwide would be axed as part of the company's cost-cutting initiative. In its first decision post the downsizing announcement, Intel announced that 1,000 managers would be laid off worldwide.

The company spokesperson based in Hong Kong refused to divulge details of the sacking on a country-to-country basis. The IT behemoth had recently announced it would be conducting an `efficiency programme' to determine expendable positions across its centres. Industry analysts expect further job cuts. The firm employs around 3000 employees across 10 locations in India.