Intel postpones construction of chip factory in Germany’s Magdeburg
news-admin
American chip manufacturer Intel is postponing the construction of a factory in Magdeburg, Germany, director Pat Gelsinger announced on Monday.
Gelsinger expects the project to be delayed by about two years.
Intel planned to build two chip factories in Saxony-Anhalt, creating around 3,000 jobs. The foundation stone is scheduled to be laid this year.
But Intel has been struggling with losses and launched a cost-cutting program earlier this year. The company announced in August that it planned to reduce its workforce by 15% as part of a multibillion-dollar cost-cutting program.