Intel Shutdown their facility in the Philippines, 1,800 workers losses their jobs
The global economic crisis are blasting and destroying the electronic industry as the world's largest maker of microprocessors "Intel Corporation" announces that their closing their manufacturing plant in General Trias, Cavite Philippines.
Almost 1,800 employees are affected with this decision and definitely the unemployment percentage will be much higher with the pending closure of the other electronic companies.
Aside from stiff competition from rival Advanced Micro Devices Inc., who is creating and selling a much cheaper chips, Intel's decision to shutdown their facility came after a 90 percent decline in fourth-quarter revenue.
Aside from their facilities in the Philippines, their also closing their plant in Malaysia.
Intel will give a severance package and a range of transition services to their employees who are affected with this retrenchment.
Almost 1,800 employees are affected with this decision and definitely the unemployment percentage will be much higher with the pending closure of the other electronic companies.
Aside from stiff competition from rival Advanced Micro Devices Inc., who is creating and selling a much cheaper chips, Intel's decision to shutdown their facility came after a 90 percent decline in fourth-quarter revenue.
Aside from their facilities in the Philippines, their also closing their plant in Malaysia.
"The company plans to close two existing assembly test facilities in Penang, Malaysia and one in Cavite, Philippines, and will halt production at Fab 20 an older 200mm wafer fabrication facility in Hillsboro, Oregon. Additionally, wafer production operations will end at the D2 facility in Santa Clara, California."
Intel will give a severance package and a range of transition services to their employees who are affected with this retrenchment.
