Chip giant Intel said that it will halt production at five sites worldwide. Two assembly test facilities in Malaysia and one in the Philippines will close. The company will also end production two US facilities, in Oregon and Santa Clara, California.
Though Intel decided about a year ago to close an older facility in Jerusalem, it said then that the employees there will be moved to other facilities, including some in its new Jerusalem facility. The company also reportedly plans to close a development center in Yokne'am which employs 50 people. Intel opened the Yokne'am center in 2005, when the company acquired Oplus for $100 million.
Intel Israel employs about 7,000 people and exports over $1.5 billion per year.
Shares in Intel, which closed at $13.26 on Nasdaq yesterday, rose slightly in after-hours trading.
Published by Globes [online], Israel business news - www.globes-online.com - on January 22, 2009
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