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Intel Announces 6,000 New Layoffs
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by Jordan Yerman | January 22, 2009 at 07:04 am
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Chipmaking giant Intel is announcing 6,000 new layoffs as it closes five plants in Asia and the USA.
This is not unexpected, after Intel reported a 90% drop in earnings last week.
Intel will no longer be part of Silicon Valley as it closes its Santa Clara plant.
The announcement comes a week after Intel reported a 90% fall in profits for the last three months of 2008.
Intel's profit for the quarter totalled $234m (£160m), down from $2.3bn a year earlier.
In addition to falling computer sales, the firm said it was being affected by the growth in popularity of super-small laptops, known as "netbooks", as they use lower profit margin smaller and slower chips.
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at 13:52 on January 22nd, 2009
Intel firing 6000 people. The $200 Linux Notepads knock Intel and Microsoft down. To close Silicon Valley is a Capital failure in old american bookkeeping "quarterly results". China needs 5 Years to copy Intel china, that's it , no longterm profit with shortterm quarterly result pressure. The chinese just develop without this antiquated tool. Good Tech reports thanks