Intel Closes 20-year Plant in the Philippines. Crisis Hitting Us Hard

As predicted, we are now starting to feel the full effects of the global financial crisis. Intel announced yesterday that it will be closing its 20-year old testing and assembly plant in the Philippines.

Business – Intel to close down Philippine plant –

MANILA, Philippines — Intel Corp., one of the biggest foreign operations in the Philippines, has told employees that it will close down its over 20-year-old testing and assembly plant outside Manila, sources in the company said.

The announcement was made via email around 10 a.m. Wednesday, the sources said. It gave no date for the closure. Officials of the US-based chipmaker and its local public relations agency told they were not ready to give an official statement at the time of this writing.

This is bad news for the industry as this move is expected to impact the lives of thousands of computer engineers and support staff, not to mention limiting the future career options of thousands more in the future. Intel had been one of the largest employers of computer hardware engineers in the country for the past few years. This comes in the heels of an an announcement by Texas Instruments (based in the Northern part of the Philippines) to lay off 400 employees from its factory last December.