Planned Intel job cuts create uncertainty in New Mexico city
RIO RANCHO, N.M. (AP) — Intel's plan for massive job cuts is creating uncertainty in one of New Mexico's largest cities.
The giant chipmaker is expected to unveil details this week that could determine the future of the company's plant north of Albuquerque in the city of Rio Rancho.
Intel announced last week it is cutting 12,000 jobs — about 11 percent of its workforce. The move is part of the company's effort to reorganize amid declining personal computer sales.
Business leaders worry massive job cuts at the Rio Rancho plant could affect central New Mexico.
The state already is seeing lower revenues because of an oil downturn in eastern New Mexico and falling natural gas prices in the northwestern part of the state.
Intel also has large campuses in Portland, Oregon; Chandler, Arizona; and Santa Clara and Folsom, California.