Intel unlikely to slash jobs

SHARM EL-SHEIKH, Egypt - Intel Corp. is unlikely to shut plants or slash jobs

following a top-to-bottom review announced last month to address shrinking

market share and slowing computer sales, a senior executive at the world's

biggest chipmaker said on Sunday.

"That has not been the expected outcome," Gordon Graylish, Intel's

Vice President and General Manager for Europe, the Middle East and Africa, told

Reuters. He said Intel Chief Executive Paul Otellini "certainly shared that

as well".

Otellini said last month that "no stone will remain unturned",

raising expectations among analysts that the company, which employs nearly

100,000 people, could cut jobs and overhaul key parts of its business.

In an interview in the Red Sea resort of Sharm El-Sheikh, Graylish said the

emphasis was on improving the overall efficiency of Intel's operations and that

closing factories was a very expensive option.