The world’s largest computer chip maker is laying off at least 5,000 employees and shuttering several manufacturing plants.
Intel Corp. (INTC) said demand for its chips is decreasing at a pace never before seen, making the layoffs necessary. The numbers could go as high as 6,000. Intel had a payroll of 84,000 people at the end of 2008; the San Jose Mercury News pointed out the company already had laid off 20,000 workers over the previous three years.
Intel’s layoffs news comes a week after it reported a 90 percent plunge in its fourth-quarter 2008 net income.
