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Business

Intel cuts jobs, shuts down facilities

Latest update : 2009-01-22

Leading computer chip manufacturer Intel announced plans to close facilities in the US, Malaysia and the Philippines between now and the end of 2009. The closures will affect between 5,000 and 6,000 jobs, though some will be relocated.

AFP - Intel Corp., the world's biggest computer chip maker, announced plans on Wednesday to close facilities in Malaysia, the Philippines and the United States.
  
The Santa Clara, California-based company said the moves were expected to affect between 5,000 and 6,000 employees worldwide.
  
"However, not all employees will leave Intel," the company said in a statement. "Some may be offered positions at other facilities."
  
Intel said it will close two assembly test facilities in Penang, Malaysia, and one in Cavite, Philippines, in addition to wafer production facilities in Santa Clara and Hillsboro, Oregon.
  
The closures, Intel said, will take place between now and the end of 2009.
  
The moves were designed to "align its manufacturing capacity to current market conditions," the company added.
  
Intel reported last week that the economic slowdown and slumping demand for personal computers sent net profit sharply lower in the fourth quarter of the year.
  
It said net profit in the last three months of the year plunged to 234 million dollars, down 90 percent from a year ago.
  
Intel has also warned that it expects even worse results this quarter than the previous three months, with an expected revenue of seven billion dollars.

Date created : 2009-01-22

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