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World’s largest chip maker Intel, has announced that the company will be ceasing production in five old factories. Due to closure of factories, around 5,000 to 6,000 employees will be laid off. The factories which will be closed includes two assembly and test locations in Penang, Malaysia along with one in Cavite, Philippines. Also production at wafer manufacturing plant at Fab 20 in Hillsboro, Ore and at D2 factory in Santa Clara, California will also stop production.

According to Intel:

The actions at the four sites, when combined with associated support functions, are expected to affect between 5,000 and 6,000 employees worldwide. Not all employees will leave Intel; some may be offered positions at other facilities. The actions will take place between now and the end of 2009.