Intel is a pioneer investor to the semiconductor technology industry in the Philippines. It has been in the Philippines for more than a decade and has been providing jobs for the country’s Electronics engineering graduates for quite a while.
I was really surprised about Intel’s decision to close down it’s plant in Cavite. In Intel’s announcement, It said that it will be closing down a couple of test facilities in Malaysia in addition to the facility in Cavite in order to restructure some of its manufacturing operations and align its manufacturing capacity to current market conditions. This really sends an alarming situation of the global economy. Even Microsoft is having its first significant layoffs during it’s 34 year of existence.