Intel to lay off 16,000 employees ??

WHAT !!!!
Is INTEL going to do that ? Will it happened to Intel Penang ?
If this is true.. OMG....
Anyone got something to share on this ?

Via : TG Daily
Intel chief executive officer Paul Otellini revealed last month that Intel is about o enter the most extensive "self re-evaluation" phase in 20 years. Now, first indications of the impact of this process begin to surface: According to industry sources, the company may lay off or "re-deploy" up to 16,000 employees. Intel is expected to announce details on 15 June.