Don’t kill the messenger for bringing bad news, but the news that AMD plans to lay off 10 percent of its staff is definitely not great, especially if you work for DAAMIT.
However, if you own AMD stock this might be a good thing after all. By letting approximately 1,700 people go (10 percent), AMD will cut its operating costs significantly and the investors will see this as a positive step.
Even some companies such as Intel and Nvidia that don’t have any significant product related problems and delays are suffering due to the weak economy and needless to say, AMD is not out with any breathtaking frequencies and the economy is doing just as bad.
The cuts should happen within the next two weeks.