The company attributes the decline to the closing of its Jerusalem fab.
Exports by Intel Israel Ltd. fell 10% to $1.39 billion in 2008 from $1.54 billion in 2007. The company's workforce fell to 7,300 from 6,470.
Intel Israel general manager Maxine Fassberg attributed the drop in sales to the closing of Intel's Fab 8 in Jerusalem, and the drop in employment to the sale of Fab 18 in Kiryat Gat to Numonyx Inc.
Commenting on future layoffs at Intel Israel, Fassberg said that Intel Corporation had already released announcements on this issue, and that they made no mention of plans concerning Intel Israel.
In 2008, Intel Corporation (Nasdaq: INTC) made $640 million in reciprocal procurements from Israeli suppliers. The company's reciprocal procurements have exceeded $3 billion since 2006. More than $1.4 billion of Intel's investment in its new Fab 28 in Kiryat Gat was spent on construction by and equipment from Israeli companies.
Published by Globes [online], Israel business news - www.globes-online.com - on February 24, 2009
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