Yes, they will sell the site and buy/leaseback a smaller site. It makes perfect sense - very few folks are coming into the office. It will save millions.
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Most likely they are selling the building(s) to cash out, not close the site. After the sale they will lease it right back. Such tricks are typical for companies in cash flow crunch situations.
What's the rationale for doing that?
Intel is selling Austin site..this is a fact! Like it or not. austerity at Intel is real!! No sugar coating this
Why would they do that?
Don’t know about that, I am seeing a lot of recently opened reqs at the Intel Austin site.