AMD cuts 10 percent of workforce

AMD cuts 10 percent of workforce

Summary: AMD CEO Rory Read said the restructuring will allow the company to focus on lower power chips, emerging markets and cloud computing.

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AMD cut 10 percent of its workforce in a move to cut costs and make larger bets on low-power chips and cloud computing.

According to a statement, AMD will cut operating expenses by $10 million in the fourth quarter and $118 million in 2012. Total operational savings in 2012 will top $200 million.

New AMD CEO Rory Read said the restructuring is "designed to improve our ability to consistently address the needs of our global customer base and stake leadership positions in lower power, emerging markets and the cloud."

AMD added that its layoffs will affect all functions globally and be complete at the end of the first quarter. The company will take a restructuring charge of $101 million in the fourth quarter with $4 million in the first quarter of 2012.

Related:

AMD delivers solid Q3 in Read's debut

Topics: Processors, CXO, IT Employment

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3 comments
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  • RE: AMD cuts 10 percent of workforce

    Hey, we made more money this quarter! I know what we should do now... fire people as a reward! THAT'LL boost morale!
    jgm@...
  • RE: AMD cuts 10 percent of workforce

    Think all Llano boards should have sideport memory for a 1 to 2GB DDR3 memory stick running at 1600 min and hybrid crossfire with a 6770 min too. The 10 percent of the workforce is just to increase earnings for shareholders to appease them.
    raypozas
  • RE: AMD cuts 10 percent of workforce

    They are oviously not making good use of that $1 billion from Intel.

    If they did make good use, bulldozer would be an awesome, and no need for job loss. But I have the feeling that money went to evil investors. And cutting workforce is a way to make evil investors happy.

    The truth of things is that its the workforce that made and, even if they are not investors, they still invested their hard work and time in AMD, yet they get shafted.


    Not sure why AMD not came out with plan a/plan b, for when bulldozer didn't do so well.
    ShqTth