Intel said on Thursday that it is closing its factory in Hudson, Mass., by the end of 2014 and will cut about 700 jobs, reports at the Boston Globe.
The factory was originally built by a company called Digital Equipment Corp, which has long since closed its doors. It was acquired by Intel in 1998. Intel said that this factory uses equipment that is more than a decade old and both the factory and the location can't be revamped to meet its current needs, reports Bray.
Intel is currently spending billions to build new factories elsewhere, including a $5 billion factory in Chandler, Ariz., and a massive expansion to a factory in Hillsboro, Ore., which some say will cost $3 billion or more.
Intel will still be a major employer in Hudson. It has an R&D center there that employees 850 people.
We reached out to Intel for comment; we'll update this post if we hear back.