UPDATE 1-Intel to shut sites, cut jobs

[OhioChick]

Source: Reuters

Wed Jan 21, 2009 4:47pm EST

NEW YORK, Jan 21 (Reuters) - Intel Corp (INTC.O) said on Wednesday that it would close sites in Asia and scale back operations in the United States as part of a restructuring that could affect as many as 6,000 jobs.

Intel said it would close two assembly test facilities in Penang, Malaysia, and one in Cavite, Philippines. It will halt production at a wafer fabrication facility in Hillsboro, Oregon, and stop some operations at a facility in Santa Clara, California.

The actions will affect 5,000 to 6,000 Jobs, but not all positions would be cut, Intel said in a statement. The chipmaker said it would offer some workers positions at other facilities.

The restructuring will take place between now and the end of 2009.

Shares rose to $13.40 in after-hours trading after rising 3.11 percent to close at $13.26 on the Nasdaq stock market. (Reporting by Robert MacMillan)





Read more: http://www.reuters.com/article/marketsNews/idUSN2149793820090121

[CatholicEdHead]

1. More layoffs are not good

[2Design]

stock holders love it just like in the 80's n/t

[UpInArms]

2. not good

k & r

[Marrah_G]

3. Well crap

I believe my best friends husband works at the Hillsboro one. He transferred out there like 5 years ago.....

[iamthebandfanman]

4. i dont think they recovered from the original p4

if you ask me.

i mean its pretty bad when your previous generation cpu(the p3) can out pace it at lower clock speeds and at the same time you have a competitor with cpus that frankly operated faster than their speed indicated(and could be pushed to crazy lengths as far as overclocking)...


i dunno maybe im wrong, that was back in 2001-02(i think) after all
just seems like intel has been downhill ever since.

[Azlady]

5. damn, damn, damn.all those jobs...how is this going to stop..... n/t

[OneBlueSky]

6. is anyone keeping a running tally of these job losses? . . .

and what kinds of jobs they are? . . .

a lot of these jobs are white collar, and public works projects building bridges and schools aren't going to create a whole lot of jobs for these folks . . . if you're used to sitting at a desk behind a computer, handing you a hammer and a saw isn't going to make you a construction worker . . .

Obama is going to have to do more to stem the tide of job losses . . . like penalize companies that take their jobs (and/or their headquarters) offshore to increase their profits . . . these outfits want all the advantages of being an American company without any of the responsibilities, and it has to stop . . .