Thursday, January 22, 2009

Intel will close five plants.

Company Intel will close its five factories for the production of electronic components, which uses outdated technology, reported The New York Times. At least five thousand people working in these factories will be dismissed from the company.
Among the plants would be closed and one of the oldest factories of Intel, based in Silicon Valley, California. Also subject to closure of a plant in Oregon and three Intel factories in Asia.
Recall that a week ago, Intel has published financial results last quarter of 2008. According to them, the profits the company has fallen tenfold. In addition, the Intel has not been able to provide a financial forecast for the first quarter of 2009.
The head of Intel Paul Otellini (Paul Otellini) believes that the semiconductor industry will be at the plight of at least six months. At that time Intel will introduce austerity regime. In particular, abolish bonuses to staff.
By the end of 2008, Intel has worked in 84 thousand people. Over the past three years, Intel has reduced the 20 thousand jobs.
The company AMD, the main competitor of Intel processors on the market, also reduces the costs of the economic crisis. In particular, AMD had reduced wages and a decision on the reduction of nine per cent of the state.

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