Hot News of the Day!!
I'm sure everyone would have known this news by now, as i've received soooo many links in msn, email, FB, sms etc...but i still learn some new information from below news write-up.
Indeed to news reader, this appears as "What? Intel is going to shutdown??" hence everyone got so nervous and come asking me, "how?? are you impacted? so sad for the people, scary....etc etc..." me,"what? i'm no longer with intel ah kor ah chi..." but to me, either i'm still with it or not, i feel nothing :S am i cold blooded or what? lay me off i'll be happy (take a big lump sum and go wor, who dun wan?); let me stay, i'll be happy too. But to be more precise the 5K-6K ppl impacted is worldwide, not limited to Penang only. The 2 plants shutting down are PG6&7, my office area PG12 so far no solid news yet. ppl still enjoying the massage chair & the Wii i think :P
Intel to stop production at 5 older plants, affecting up to 6000 employees
(RTTNews) - Intel Corp. (INTC), the world's biggest chipmaker, said Wednesday that it will halt production at five older plants by the end of this year as part of its plans to restructure some of its manufacturing operations and align its manufacturing capacity to current market conditions.
The company said it plans to close two existing 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 wafer production operations at the D2 facility in Santa Clara, California.
Intel has its most modern plants in New Mexico, Oregon, Arizona, Israel and Ireland.
The actions, which will take place between now and the end of 2009, are expected affect 5,000 to 6,000 employees, but not all of them would leave the company, Intel said, adding that it would offer some workers positions at other facilities.
The announcement came as a surprise, as the chipmaker had said earlier this month that the 20,000 job cuts made since 2006 should help it tide over the economic slowdown.
However, a 90% drop in fourth quarter profit, falling demand for PC chips has forced Intel to cut costs further and align its manufacturing capacity.
Intel is the world's largest supplier of microprocessors, the brains of personal computers, with roughly 80% of the global market share. However, the entire industry is facing a grim situation in the midst of the economic crisis. A freeze in information technology spending and a shift toward low-margin processors have caused havoc on chipmakers.
The world's biggest chipmaker has raised the possibility of reporting a loss for the first quarter, a media report said Tuesday, citing an internal memo of the company. Intel has not reported a net loss since 1986.
"We are not going to wake up in six months with everything rosy again," Intel's Chief Executive Officer Paul Otellini told employees last week in an internal memo, according to the Bloomberg report. "After 87 quarters of profit, the first quarter is too close to call," the memo reportedly said.
Intel shares, which have traded in a range of $12.06 to $25.29 over the past year, closed Wednesday's regular trading session at $13.26, up 40 cents or 3.11% and gained an additional 15 cents or 1.13% in after hours trading.
"range of $12.06 to $25.29" last year, wonder if i'm too lucky or i got the right sense that i sold off all of my available stocks ranging $25-$25.12 and then cabut! gambate Intel, as u're still one of the best companies i've seen. seriously it is so structured & organised that ppl are too pampered inside :)
Indeed to news reader, this appears as "What? Intel is going to shutdown??" hence everyone got so nervous and come asking me, "how?? are you impacted? so sad for the people, scary....etc etc..." me,"what? i'm no longer with intel ah kor ah chi..." but to me, either i'm still with it or not, i feel nothing :S am i cold blooded or what? lay me off i'll be happy (take a big lump sum and go wor, who dun wan?); let me stay, i'll be happy too. But to be more precise the 5K-6K ppl impacted is worldwide, not limited to Penang only. The 2 plants shutting down are PG6&7, my office area PG12 so far no solid news yet. ppl still enjoying the massage chair & the Wii i think :P
Intel to stop production at 5 older plants, affecting up to 6000 employees
(RTTNews) - Intel Corp. (INTC), the world's biggest chipmaker, said Wednesday that it will halt production at five older plants by the end of this year as part of its plans to restructure some of its manufacturing operations and align its manufacturing capacity to current market conditions.
The company said it plans to close two existing 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 wafer production operations at the D2 facility in Santa Clara, California.
Intel has its most modern plants in New Mexico, Oregon, Arizona, Israel and Ireland.
The actions, which will take place between now and the end of 2009, are expected affect 5,000 to 6,000 employees, but not all of them would leave the company, Intel said, adding that it would offer some workers positions at other facilities.
The announcement came as a surprise, as the chipmaker had said earlier this month that the 20,000 job cuts made since 2006 should help it tide over the economic slowdown.
However, a 90% drop in fourth quarter profit, falling demand for PC chips has forced Intel to cut costs further and align its manufacturing capacity.
Intel is the world's largest supplier of microprocessors, the brains of personal computers, with roughly 80% of the global market share. However, the entire industry is facing a grim situation in the midst of the economic crisis. A freeze in information technology spending and a shift toward low-margin processors have caused havoc on chipmakers.
The world's biggest chipmaker has raised the possibility of reporting a loss for the first quarter, a media report said Tuesday, citing an internal memo of the company. Intel has not reported a net loss since 1986.
"We are not going to wake up in six months with everything rosy again," Intel's Chief Executive Officer Paul Otellini told employees last week in an internal memo, according to the Bloomberg report. "After 87 quarters of profit, the first quarter is too close to call," the memo reportedly said.
Intel shares, which have traded in a range of $12.06 to $25.29 over the past year, closed Wednesday's regular trading session at $13.26, up 40 cents or 3.11% and gained an additional 15 cents or 1.13% in after hours trading.
"range of $12.06 to $25.29" last year, wonder if i'm too lucky or i got the right sense that i sold off all of my available stocks ranging $25-$25.12 and then cabut! gambate Intel, as u're still one of the best companies i've seen. seriously it is so structured & organised that ppl are too pampered inside :)
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