Intel has announced that it will cut 5,000 jobs from it’s work force this year. Demand for Intel’s personal computer chips have fallen. The company has not kept up with the move to smart phones and tablets. This week Intel reported its profit and revenue had fallen for the second straight year. The cut’s represents about 5 percent of the 16,000 jobs Intel has on its payroll around the globe. The reductions in jobs will be done through attrition, buyouts and early retirement. Intel’s facility in Rio Rancho has a work force of 2,900. 400 people lost their jobs at the Rio Rancho plant last year. Intel in Rio Rancho employed 5,300 workers in 2005. Intel has not announced which locations will be affected by the announced cuts. The company is forecasting its profits for 2014 will be about the same as 2013.
