Intel prepares to close Philippine plant
 

Intel is expected to shut its test and assembly plant in the country within the year, in a move that has stunned its employees and the local industry.

Top company officials informed local employees during a meeting Apr. 2 that the company was exploring "multiple options" for the manufacturing hub, one of which included plans to close the facility. They added that severance pay packages have already been arranged for the employees, should these plans fail to work out in the next six to nine months.

First set up in Makati City in 1974, the manufacturing plant was later moved to a bigger facility in General Trias, an industrial town where the biggest industry is semiconductor, in the province of Cavite, located just south of Manila.

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