Report: Intel to Keep Rio Rancho Plant Open

After Speculation and Cutbacks, Finally, A Hint: 

BY DENNIS DOMRZALSKI The Oregonian newspaper reported Friday that Intel Corp. does not intend to close it's Rio Rancho plant as part of the restructuring plan it announced earlier this week. Citing sources, the newspaper said that Intel CEO Brian Krzanich has told employees that the company isn't closing any of its manufacturing sites in the restructuring effort, and that the Rio Rancho facility will remain open. On Tuesday, Intel said it would cut 12,000 jobs, or 11 percent of its global workforce. About half of Intel's employees are in the United States. The company also revealed that employment at the Rio Rancho facility had fallen to 1,900 as of Jan. 1, a 400 person decrease from the prior year. The plant employed 5,500 in the mid-2000s, and it hasn't had a major investment since 2009. In 2004, Intel inked a $16 billion industrial revenue bond deal with Sandoval County. So far, the company has used only $6 billion of that bonding capacity. The bond deal expires in October 2019. In its first quarter financial report filed with the U.S. Securities and Exchange Commission, Intel said it “plans to close certain facilities” as part of the restructuring effort. The filing did not say which facilities would be closed, and Intel officials have not given any specifics of where the jobs would be cut or which facilities would close. The Oregonian has reported that Intel is expected to tell employees next week about who will be laid off and which sites will be closed.

Read Dennis Domrzalski's Society of Journalism Professionals Top of the Rockies award-winning coverage of Intel's relationship with N.M.

Report: Intel to Keep Rio Rancho Plant Open was originally published to FreeABQ