Intel in Costa Rica – To lay off 1,500 employees and goes to Asia

Intel’s Costa Rican unit will lay off some 1,500 employees and move its manufacturing operations to Vietnam, according to reports.  The layoffs would represent more than half of its total staff in the country. 

According to reports, the US chip manufacturer will retain some 1,200 workers in Costa Rica, mostly working in its service operations.

Local economists are warning the move could have significant effects on the economy.

Intel’s closure of its manufacturing operations will have a direct impact on the country’s exports and produce a drop in the country’s GDP, economists warn – estimates indicate that Intel’s manufacturing operations represent 5% of the country’s entire GDP and a significant percentage of the country’s total exports.

Chosen excerpts by Job Market Monitor. Read the whole story at Intel to lay off 1,500 employees, move manufacturing operations to Asia – Inside Costa Rica | Inside Costa Rica.