Monday, April 7th 2008
AMD plans to reduce workforce by 10%
In a disappointing but agreed upon move, AMD has decided to cut 10% of its workforce due to lower than expected first quarter financial results. The majority of business segments (mainly CPU) did not meet financial targets and in most cases lost money (again, mainly CPU). The cuts will hit all groups (including the ones that generated profit like the graphics division, albeit at a smaller scale).
AMD currently employs 16 000 in its workforce; a 10% cut will mean approximately 1600 people will be relieved. The cuts are expected to begin mid-April and finish by the end of the 3rd quarter of 2008.
AMD currently employs 16 000 in its workforce; a 10% cut will mean approximately 1600 people will be relieved. The cuts are expected to begin mid-April and finish by the end of the 3rd quarter of 2008.