Today's front news announces the closing of Intel corporation in the Philippines. Its plant is situated in General Trias, Cavite, Philippines. Intel is one of the biggest microchip manufacturer and contribute also to the Philippine exports. It is the first American company that arrived in the Philippines and the first semi-conductor firm that was been in the country.
On this closure, about one thousand eight hundred (1,800) Filipino employees will be affected. Yes, they will be compensated with their length of service and hoping to be rehire by the company subsidiary Numonyx.
Why some companies have opted the neighboring Asian countries for plant operation instead of the Philippines. Some analyst have given two answers. Expensive labor and electricity cost.
Speaking of electricity the Energy regulatory board just announced that it permitted the raising of electricity bills of ten pesos per hundred kilowatt consumption from Meralco customers and twenty pesos from other electric providers.
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