Intel to cut jobs in US and expand operations in Bangalore

Thursday, July 13, 2006

BANGALORE: Intel has announced its plans for expansion in the Indian Silicon Valley, and is stepping up its investment in India and expanding its research and development facilities.

Earlier, the chip making company had announced that it would trim its business staking at least 16,000 jobs as a part of its cost-cutting initiative. However, with new expansion ideas under the belt, the company is finalizing its investment plans in India worth almost $54 million in Bangalore.

Sources said that the firm would be adding a third building to its software development and information technology R&D center and are currently seeking governmental approval for the expansion of its campus. Stating ãIntel India never stopped hiring, " the firm employs around 3,000 across 10 locations in India.

Part of the companyâs $1 billion investment in India, Paul Otellini, Chief Executive Officer, noted that the expansion would include $800 million that would be invested over the next five years for business expansion and $250 million would be fed into the Intel Capital India Technology Fund to help stimulate technology innovation and growth.

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