Intel Cutting 1,500 Jobs at its Costa Rica factories
Published on: 9th Apr 2014
Note -- this news article is more than a year old.
Chipmaker, Intel has is to cut 1,500 jobs in Costa Rica and shift the production work to Asia as a cost cutting measure.
The company has a sizeable assembly and testing factory in Costa Rica, but is consolidating all such work at three other locations, in Malaysia, Vietnam and China.
The company is a major employer in Costa Rica, and will still have around 1,000 of its existing employees working on other projects. It aims to create around 200 new jobs as well.
"Intel marked a landmark in our national history, by putting Costa Rica on the map as a place of investment in the world," said Foreign Trade Minister Anabel Gonzalez. "Today, Costa Rica doesn't depend on one sector and one company, as we export close to 4,763 products to 153 different countries."
It is however estimated that around 20 percent of the country's exports, by value came from the Intel factories.