Intel has predicted its first loss in 21 years due to recession. And this is compelling them to close down five of its manufacturing units. And this readily means a giant layoffs binge of 5,000 to 6,000 jobs.
As the condition is in such a way that they can’t predict as when will the sales rise up again, they have no other choice except to close down their manufacturing units.
The first close down will be of an aging computer chip factory in Hillsboro of Oregon where around 1000, workers are working for their daily bread. And next the close down will be of chip assembly plants in Penang of Malaysia and Cavite of the Philippines. The Silicon Valley D2 plant near Intel’s head quarters in Santa Clara, California will be the next. The annual pay for a beginning production employee of Fab is estimated to be around $35,000 and for engineers, it is likely to be around $70,000.
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