RIO RANCHO, N.M. (AP) – One of New Mexico’s fastest growing cities remains on edge as Intel is set to give details on massive job cuts.
The plan expected to be unveiled Monday 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 a decline in sales of personal computers.
Business leaders worry about the effects that massive job cuts at the Rio Rancho plant could have on central New Mexico.
The state already is seeing lower revenues because of an oil downtown in eastern New Mexico and falling natural gas prices in the northwestern part of the state.