Wednesday, January 21, 2009
Intel To Shut Sites, Cut Up To 6,000 Jobs
Intel Corp said on Wednesday it would close manufacturing plants in Malaysia and the Philippines, as well as its only remaining factory in Silicon Valley, cutting as many as 6,000 jobs.
The announcement comes a day after the world's largest maker of microprocessors used in personal computers slashed prices on a number of its chips and a week after it reported a decline in fourth-quarter revenue.
Intel said it would close two assembly test facilities in Penang, Malaysia, and one in Cavite, Philippines.
Not all cuts at the affected plants will lead to job losses and some workers will be offered positions at other facilities, it said, adding that the restructuring will take place between now and the end of 2009.