AMD job cuts will not affect UK

AMD's widespread job cuts will not affect its UK operations.

The chipset manufacturer said on Wednesday that it would cut 430 jobs, or 2.6 percent of its workforce. The announcement came just weeks after its quarterly results showed huge losses.

At the end of April, the chipset manufacturer posted a net loss for the first quarter of $611m, largely due to falling prices and sales, as well as supply chain problems. The same quarter a year earlier saw a profit of $184.5m.

But the company told ZDNet UK on Friday that none of the job cuts would fall on its UK operations, which are based in Frimley, Surrey. At least 170 of the job cuts will be made in the US.

AMD's share price has dropped by 55 percent in the last year, while that of rival Intel has risen by 11 percent. Intel's market share is also rising, with AMD's market share falling from 25.7 percent in the fourth quarter of last year to 18.7 percent in the first quarter of this year.