Intel announced that roughly 1000 jobs will be cut in New Mexico at its Rio Rancho plant which is also known as the Fab 11X. The job cut is around 20% which is really hefty.

At to biggest dissapointment, some of the workers who are included in the job cut are highly experienced with around 25 years experience. Intel indicated that it will be offering employees severance packages and the option to reapply for a job within the company.

Last year Intel had reduced the entire global workforce by 10500, which was around 10% of the total workforce of intel worldwide.