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Friday, 04 November 2011 09:30

AMD to cut 10+ percent of workforce

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Hopes to save money for investments


Chip designer AMD has announced plans to eliminate about ten percent of its workforce as part of a comprehensive restructuring program.

The layoffs will affect all businesses and levels of the company and AMD believes the effort will cost $105 million in Q4. However, AMD hopes to save about $200 million in operating expenses in 2012.

Newly appointed AMD CEO Rory Read is apparently looking to boost profitability and he has already told investors that AMD needs to work on execution and avoid costly delays in the future.

AMD currently employs more than 12,000 souls. Some sources claim that the cuts will eliminate up to 1,400 jobs, including about 300 at the company’s headquarters in Austin.

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+4 #1 trajan2448 2011-11-04 12:41
Ouch.
 
 
-2 #2 Deanjo 2011-11-04 14:01
Quote:
Newly appointed AMD CEO Rory Read is apparently looking to boost profitability and he has already told investors that AMD needs to work on execution and avoid costly delays in the future.


No shit Sherlock. Like this is something every dog and their fleas (including previous management at AMD) didn't already know. How about telling how your investors how you plan to reach that goal. Explain how cutting 1400 jobs (and a crapload of available man years) will achieve this? Sorry folks but AMD is fast approaching "firesale" status.
 
 
+1 #3 Jermelescu 2011-11-04 15:04
from his history in business, he knows what he's doing
 
 
+2 #4 majorpayne 2011-11-04 17:13
It's sad but that is their strategy it happens in many company. Hope that those 1400 that will lost their job can find new job in short time for their living.
 
 
+1 #5 redisnidma 2011-11-04 18:00
I guess that's what happens when you release crappy products like Bulldozer and lose market share at the same time.

They (AMD) are paying very dearly for their mistakes.
 

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