Intel Sacking People
All of a sudden, just as the chip market starts to show signs of life, Intel seems to be feeling the pinch – laying off people in Massachusetts and New Mexico.
This at a time when the Americas’ market for chips rose 21.5% in Q2 compared to Q2 2012, according to IC Insights.
The guys laid off in Massachusetts are the result of the closure of Intel’s fab there. That is to cost 700 people their jobs.
The jobs lost in New Mexico are 400 people at Intel’s Rio Rancho fab complex which employs 3000 people.
Intel has cash of around $10 billion, debt of around $13 billion, and a market cap North of $100 billion