Intel is yet another big-name company with large job cuts in the near future, following the announcement that they plan to shut down
some of their manufacturing plants and slimming production at others. Two overseas plants, located in Malaysia and the Philippines, will be shut down in the coming months, both of which produced older-technology silicon. In addition to the plants closing, the company will also be halting production of older 200mm technology at their famous Fab 20 in Oregon, which is one of their largest.
The plants closing and production halts will result in large job cuts, upwards of 7% of their workforce. That represents 5,000 to 6,000 people, though luckily for them some positions will be made open at other Intel facilities. All of this is an effort by Intel to reduce their overhead in producing older technology, allowing them to focus on newer development.