BizLIVE - Intel Vietnam has rejected rumors of closure and confirmed that the company will cut down on its personnel following a reshuffle of its mother company.
Intel Vietnam to Downsize Personnel, Rejects Closure Rumors
Intel Vietnam will cut its personnel by two thirds as part of its parent firm's global reshuffle. Photo:
Intel Vietnam, a subsidiary of the world's largest chipmaker, has turned down rumors that it would shut down its office, and confirmed news that a layoff is on the cards, local media reported.
The downsizing is part of the Intel Corp’s global restructuring plan announced in April this year, said the firm’s Marketing Director Pham An Duong told press late on Wednesday.
CEO Tran Duc Trung and many other employees will leave Intel Vietnam on September 30. As such, the Ho Chi Minh City-based firm’s personnel will be cut by two thirds to five only.
A source was quoted by as saying that the closure of Intel Vietnam was unlikely.
Intel has two companies in Vietnam, Intel Vietnam and Intel Products Vietnam. The layoff plan reportedly will not affect the latter, which runs a $1-billion chip manufacturing factory in the Saigon Hi-Tech Park and will continue to receive support from its parent firm.