Intel yesterday forecast slowing growth for the personal computer industry this year and reported that several million of its microprocessors had piled up at its customers over the past twoquarters.

In an admission that Intel's execution was as much a problem as industry conditions, Paul Otellini, chief executive, told an analysts' meeting in New York that work was under way to "restructure, repurpose and resize" the company to set its course for the next few years.