| Tuesday, December 16 2008 |
Layoffs or workforce reductions are a common feature for just about any company in functioning amidst a global economic crisis. Market sources tell DigiTimes, that AMD may layoff another 10% of its roughly 15,000 strong workforce in January 2009. According to the sources, the layoffs would be concentrated in the manufacturing division of the company, along with some administrative positions.
Earlier this year, AMD indicated that it would be reducing its then 16,500 strong workforce by 10%, and later in November by 3%. The company declined to comment on the report. AMD trimmed its fourth quarter estimates and the company now expects its Q4 sales to be approximately 25% lower than its Q3 revenues of US$1.585 billion. The decline, according to AMD, is due to weaker-than expected demand across all geographies and businesses, particularly in the consumer market.
Source: DigiTimes
Earlier this year, AMD indicated that it would be reducing its then 16,500 strong workforce by 10%, and later in November by 3%. The company declined to comment on the report. AMD trimmed its fourth quarter estimates and the company now expects its Q4 sales to be approximately 25% lower than its Q3 revenues of US$1.585 billion. The decline, according to AMD, is due to weaker-than expected demand across all geographies and businesses, particularly in the consumer market.
Source: DigiTimes
User comments
They need to Cut Back on the Top Positions Pay because if they cutback the Workforce too far they lead themselves into collapse, that goes for any Company.
It is just this stinking economy. It isn't too far from being in a freefall. I just hope the estimates of it ending in June/July 2009 are correct. Even then, it will take several years to rebound from this mess. Right now, the priority of all corporations is just to survive. That's setting the bar low. :(
But the fat rises to the top and the top execs are making the biggest chunk of money. They should be price based incentives...the company is losing money, so they should as well.
by: WarEagleAUagreed . . .
But the fat rises to the top and the top execs are making the biggest chunk of money. They should be price based incentives...the company is losing money, so they should as well.
sad thuough, the way the economy is, AMD is probably the first to start feeling the tighter belt.
I wouldn't be surprised at all if we hear more of this kind of news from Ati, nVidia, Intel . . .