Published in News
AMD planing huge layoffs
The dark satanic rumour mill has manufactured a hell on earth yarn that AMD is about to lay off a third of its staff.
Word on the street is that an announcement could be a couple of days away as AMD has to announce results which are particularly dire. The layoffs would come less than a year after the chip maker cut 10 percent of its workforce—about 1,100 people—in an effort to save $200 million in expenses.
AMD had 11,705 employees as of February so that is a fair few in the dole queue. Most of the job cuts will be in engineering and sales, two areas that were lightly hit by the last round of layoffs. This will also mean that the company will have to scale back product plans.
AMD is not saying anything but on October 11 the company warned that revenue for the third quarter will fall about 10 percent from the second quarter. AMD pinned the blame on the “weaker-than-expected demand across all product lines caused by the challenging macroeconomic environment."