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200 Jobs to go at Intel

Deep Throat

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Jun 1, 2005
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  • Intel is to seek 200 voluntary redundancies from its 5,100-strong Irish workforce as part of a "routine cost management".

    The majority of the redundancies will be sought from the company's loss-making flash memory business.

    Intel posted a 44 per cent rise in quarterly profit in July but gross margins missed its target and shares fell nearly 5 per cent.
Ireland.com Breaking News

:?
 


TheBear

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<Mod>Moved to the Economy forum.</Mod>
 

freedomlover

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This is old hat. Its part of a global downsizing announced a few months ago. Intel made a general announcement back in June that they were cutting their global workforce by 10%, to be achieved both from factory closures and from voluntary redundancies. Following that there were numerous posts here and numerous media articles saying that Ireland would bear a disproportionate share of the job cuts and a figure of 1,000 was bandied about (the number predicted in an Irish Times article) as the likely number of job losses in Ireland. When Intel published details in July of how the cuts would affect each country, Ireland escaped lightly with no factory closures, no compulsory redundancies and a cut in the workforce of less than 4%. This is it.
 

gosimeon

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200 jobs in an economy creating 2,000 a week isn't a big deal. It's good to see that Intel thought it best to hold onto their Irish assets and the vast, vast majority of their Irish workers here. If anything this is a thumbs-up for Ireland, when you compare it to their plans elsewhere.
 

blindjustice

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gosimeon said:
200 jobs in an economy creating 2,000 a week isn't a big deal. It's good to see that Intel thought it best to hold onto their Irish assets and the vast, vast majority of their Irish workers here. If anything this is a thumbs-up for Ireland, when you compare it to their plans elsewhere.

Yeah a real thumbs up :shock:
The figure of 2,000 jobs a week - link please so we can dissect it!
Is it current?
How many in construction, which were most of last years job creation?

Now this is not the end of the world by any means, a friend of mine who works there says that many had been holding out for voluntary redundancy for a long time now !
 

codology

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Intel are currently building a virtual city in China at the moment and they are training staff as well,the top earners will be on 60 dollars a month and once its up and running (approx 24 months) its goodnight Leixlip.
 

blindjustice

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codology said:
Intel are currently building a virtual city in China at the moment and they are training staff as well,the top earners will be on 60 dollars a month and once its up and running (approx 24 months) its goodnight Leixlip.
QFT
 

codology

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blindjustice said:
codology said:
Intel are currently building a virtual city in China at the moment and they are training staff as well,the top earners will be on 60 dollars a month and once its up and running (approx 24 months) its goodnight Leixlip.
QFT
Ní thuigim
 

LTGuy

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codology said:
the top earners will be on 60 dollars a month
What a cheap rubbish. Salaries in China are certainly lower than in Ireland, but I would resonably guess that anyone agreeing to work for 60 dollars a month (basically illiterate unskilled migrant peasant with no permanent place to live) wouldn't be allowed to approch Intel's gate closer than 200 metres, not even daring to apply to work there.
 

codology

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LTGuy said:
codology said:
the top earners will be on 60 dollars a month
What a cheap rubbish. Salaries in China are certainly lower than in Ireland, but I would resonably guess that anyone agreeing to work for 60 dollars a month (basically illiterate unskilled migrant peasant with no permanent place to live) wouldn't be allowed to approch Intel's gate closer than 200 metres, not even daring to apply to work there.
Well LT ask any of the Intel workers who are heading of to China next year to basically train their replacements what their being paid Vs what the locals are being paid.
 

adrem

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Hold on - Codology/blind justice can you deal with the post from freedomlover please - this is not new and it is not displacement to China - it's Ireland taking a disproportionately LOW hit in Intels global cost reduction programme announcement months ago.
 

gosimeon

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Chinas a booming market and needs a huge production base to supply it. You saying it will take over from the plant here is pure stupidity. Ireland is the base for the supply to the EU. It makes sense for Intel to be here; skilled workers, low tax and free trade. They aren't going to give up Ireland's benefits in favour of taxed trading from thousands of miles away.

The Chinese plant is going to (barely) meet the Asian markets and won't touch the market the Irish plant supplies. Cop on.
 

Edo

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BJ and Codology - Hold your hands up lads - Freedom lover is right on the money on this - this is old news and apart from the 200 who are takin volunatary redundancy - Intel are going nowhere in the short term - the investment in the latest Fab plant 2 years ago rules that out - they have simply invested too much - you simply cant up sticks and move tomorrow with this type of technology. the new plant in Northern China has only broken earth in the last few months - it will be at least 2 years at the very minimum before that and the other 2 in the pipeline for China come on line. All in all - its just a cosmetic exercise for the stock market - Intel have had the profit margins seriously hit by ADM , Micron and Sandisk who moved into China well ahead of them - the big boys are just trying to boost the bottom line for Wall Street and their yearly bonuses.

That said - Intel have made their last serious investment in manufacturing here , as have HP and Dell - All plants are still highly profitable - particularly as the German consumer is buying again.

The future of the chip industry is going east and the future is smaller and smaller - the next generation of chips, transistors and conductors will be measured in microns(um) as opposed to millimeters(mm) . Silicon wafers and vias and wafers made from other materials are getting lighter and lighter and thinner and thinner and when it comes to the technology needed to process these - believe it or not Europe is the vanguard in developing this technology - including the company I work for - www.xsil.com - but the manufacturing itself will be done in Asia - the changeover from the EU and US to Asia will be gradual - they will want to wring very last cent of value out of the existing infrastructure - but as far as we can see when it comes to Intel and the likes - we'll be selling machines for R&D to the states and production machines to Asia - haven't sold a production machine in Ireland since 2003. if you did a straw poll around the office canteen in our place - I'd say our semicon industry has a shelf life of about 5/8 years - its just cost - we simply will not be able to compete - and with the increasing automation of the entire industry - even trained monkeys will be firing out vias and dies by then.

Lets be thankful We've had a damn good run and its not going to fall off the cliff tomorrow and we hopefully will have our next generation industry in place by then????
 

Ard-Taoiseach

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gosimeon said:
200 jobs in an economy creating 2,000 a week isn't a big deal. It's good to see that Intel thought it best to hold onto their Irish assets and the vast, vast majority of their Irish workers here. If anything this is a thumbs-up for Ireland, when you compare it to their plans elsewhere.
Yes, this announcement has to be viewed in context:

300 jobs(potentially 350) were announced at two companies today; Blizzard and Kinetica in Cork and Athlone respectively.

We have had job cuts of this scale in firms like this for a number of years in the boom, going back as far as that Seagate closure in Clonmel 10 years ago. It has not affected jobs growth, even this year, with blanket coverage of imminent closures, labour market growth is a stellar 3.85% in the first half.

These are voluntary redundancies. If Intel was really swinging the axe, compulsory redudancies would be served up. It's more a swing of a pendulum this way.

Intel may end up clawing back the 200 over the course of a few months. When Dell announced 100 voluntary redundancies at Limerick, its Cherrywood plant was still hiring. Vacancies may arise at Intel which will lead to this 200 figure eroded.
 

factual

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Ard-Taoiseach said:
gosimeon said:
200 jobs in an economy creating 2,000 a week isn't a big deal. It's good to see that Intel thought it best to hold onto their Irish assets and the vast, vast majority of their Irish workers here. If anything this is a thumbs-up for Ireland, when you compare it to their plans elsewhere.
Yes, this announcement has to be viewed in context:

300 jobs(potentially 350) were announced at two companies today; Blizzard and Kinetica in Cork and Athlone respectively.

We have had job cuts of this scale in firms like this for a number of years in the boom, going back as far as that Seagate closure in Clonmel 10 years ago. It has not affected jobs growth, even this year, with blanket coverage of imminent closures, labour market growth is a stellar 3.85% in the first half.

These are voluntary redundancies. If Intel was really swinging the axe, compulsory redudancies would be served up. It's more a swing of a pendulum this way.

Intel may end up clawing back the 200 over the course of a few months. When Dell announced 100 voluntary redundancies at Limerick, its Cherrywood plant was still hiring. Vacancies may arise at Intel which will lead to this 200 figure eroded.
Good points. A company will adjust its labour input from time to time. Ireland has not been downsized as much as many of Intels plants. At the same time today we see 350 new jobs elsewhere. A private sector economy moves people from less to more productive employment all the time. This is just part of that. All the job lisses will be voluntary.
 

Ard-Taoiseach

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factual said:
Ard-Taoiseach said:
gosimeon said:
200 jobs in an economy creating 2,000 a week isn't a big deal. It's good to see that Intel thought it best to hold onto their Irish assets and the vast, vast majority of their Irish workers here. If anything this is a thumbs-up for Ireland, when you compare it to their plans elsewhere.
Yes, this announcement has to be viewed in context:

300 jobs(potentially 350) were announced at two companies today; Blizzard and Kinetica in Cork and Athlone respectively.

We have had job cuts of this scale in firms like this for a number of years in the boom, going back as far as that Seagate closure in Clonmel 10 years ago. It has not affected jobs growth, even this year, with blanket coverage of imminent closures, labour market growth is a stellar 3.85% in the first half.

These are voluntary redundancies. If Intel was really swinging the axe, compulsory redudancies would be served up. It's more a swing of a pendulum this way.

Intel may end up clawing back the 200 over the course of a few months. When Dell announced 100 voluntary redundancies at Limerick, its Cherrywood plant was still hiring. Vacancies may arise at Intel which will lead to this 200 figure eroded.
Good points. A company will adjust its labour input from time to time. Ireland has not been downsized as much as many of Intels plants. At the same time today we see 350 new jobs elsewhere. A private sector economy moves people from less to more productive employment all the time. This is just part of that. All the job lisses will be voluntary.
You are such a level headed and realistic economic commentator. When will SF see sense and appoint you Finance spokesperson?
 

factual

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Ard-Taoiseach said:
factual said:
[quote="Ard-Taoiseach":2229m8om]
gosimeon said:
200 jobs in an economy creating 2,000 a week isn't a big deal. It's good to see that Intel thought it best to hold onto their Irish assets and the vast, vast majority of their Irish workers here. If anything this is a thumbs-up for Ireland, when you compare it to their plans elsewhere.
Yes, this announcement has to be viewed in context:

300 jobs(potentially 350) were announced at two companies today; Blizzard and Kinetica in Cork and Athlone respectively.

We have had job cuts of this scale in firms like this for a number of years in the boom, going back as far as that Seagate closure in Clonmel 10 years ago. It has not affected jobs growth, even this year, with blanket coverage of imminent closures, labour market growth is a stellar 3.85% in the first half.

These are voluntary redundancies. If Intel was really swinging the axe, compulsory redudancies would be served up. It's more a swing of a pendulum this way.

Intel may end up clawing back the 200 over the course of a few months. When Dell announced 100 voluntary redundancies at Limerick, its Cherrywood plant was still hiring. Vacancies may arise at Intel which will lead to this 200 figure eroded.
Good points. A company will adjust its labour input from time to time. Ireland has not been downsized as much as many of Intels plants. At the same time today we see 350 new jobs elsewhere. A private sector economy moves people from less to more productive employment all the time. This is just part of that. All the job lisses will be voluntary.
You are such a level headed and realistic economic commentator. When will SF see sense and appoint you Finance spokesperson?[/quote:2229m8om]

Thank you for the compliment.
 

Ard-Taoiseach

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factual said:
Ard-Taoiseach said:
You are such a level headed and realistic economic commentator. When will SF see sense and appoint you Finance spokesperson?
Thank you for the compliment.
Oh, de nada, I suppose that is why you picked factual as a username, you only deal in facts and not hysteria like some people here.
 


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