Sounds like, smells like recession guys.
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From 7000 employees in it's hey-day to 25% of that after these layoffs. The fab will most likely operate 3-4 more years, coming close to a 40 year run. That's hell of a long time for a high-tech factory. Sad part of it is that went F11x was built, it was the single most largest Fab in the world. Because of my NM roots, I've always wanted Intel to re-purpose operations there to maintain a large quality employer in the state. Outside of Intel, there's not much else in the private sector in the ABQ area, must less the rest of the state.