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Intel cuts jobs slow Fab 19 upgrade in Rio Rancho
Intel Corp slows a 1 billion Fab 19 renovation after reporting weak first quarter 1998 results. The plan to convert Fab 9 to flash tech using 8 inch wafers is trimmed with 3,000 layoffs anticipated mainly via attrition and lowered capital spending from 5.3 to 5 billion. Contractors face contract revisions and potential layoffs while Intel preserves its own staff.
MENTIONED IN THIS ARTICLE
Mary Beth King
Observer
Intel Corp
Intel
Sandoval County
Terry McDermott
McDermott
Harold Field
Big J