The Inquirer is reporting after poor results from Q2, Intel has been forced to lay off 4000 employees.

INTEL SAID IT WAS BEING forced to cut 4000 jobs because of flatness in the PC market.
Most are slated for the remaining months in 2002, but the chip giant reckons that it will be able to lose them through non-replacement, voluntary redundancies, and perhaps by selling some peripheral businesses off.