/// AMD Confirms Job Cuts of 15 Percent, Swings to Quarterly Loss

October 18, 2012  |  All Things Digital


Chipmaker Advanced Micro Devices just reported earnings, and confirmed what AllThingsD reported last week , that another round of significant layoffs is afoot. The size of the cut, amounting to about 15 percent of the current headcount, isn’t quite as aggressive as the 30 percent some sources initially suggested to us last week, but is more in line with what a third source I talked to last week told me was more likely. I’m told by sources familiar with AMD’s decision-making process that more aggressive cuts were indeed on the table for consideration as recently as a few weeks ago. At 15 percent, the cuts would amount to somewhere between 1,665 and 1,755 people. I’ve seen two figures for AMD’s current headcount: One says 11,100 and the other says 11,700, hence the discrepancy. The cuts are necessary, the company says, to bring about operational cost savings. AMD says it expects to save $20 million in the fourth quarter of this year and $190 million in fiscal 2012.

See the original post here:
AMD Confirms Job Cuts of 15 Percent, Swings to Quarterly Loss



Leave a Reply