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AMD to cut more jobs in January 2013
Last month AMD announced it will lay off 1700 people, about 15 percent of its workforce, and now rumors hit the web that even more cuts are coming in January. AllThingsD picked up a rumor from multiple sources that AMD is focusing on another corporate reorganization, as senior managers are reportedly making preparations for another shakeup. Details on how many jobs will be cut this time are unknown, but it's said that the number of jobs that will be eliminated this time around will be much smaller than the previous cut.
Curiously, the site also heard that the target number isn't fixed as AMD managers are waiting to see how many people will jump ship between now and January (and thus don't require expensive severance packages).
Some employees are being quietly told by managers that they will lose their jobs in January, but are being kept around for the moment as insurance against the possibility of other key people quitting before then, one source told me.
Another source told me that it’s an open secret around the corridors of AMD’s offices in Sunnyvale, Calif., and Austin, Texas, that another round of job cuts are coming. “The thinking is that management needs to get a few things right that they didn’t in the last round of layoffs,” one source told me.
AMD to cut thousands of jobs - 10/13/2012 10:35 AM
Advanced Micro Devices will very likely cut 2340 jobs which is about about 20 percent of the workforce.
AMD to cut 1,100 jobs, slash pay - 01/17/2009 12:17 PM
In a third round of recent cutbacks and job cuts, computer chipmaker AMD will cut 9 percent of its global workforce, amounting to about 1,100 jobs, and lower the pay of existing employees, according t...
AMD to change processor names - 09/23/2008 09:11 AM
According to sources, AMD will begin to change their naming scheme for their 45nm CPU: they will keep the Phenom X4/X3 branding , but the numbers will get five digits. Sources mentioned that the name ...
AMD to cut Radeon HD 3870, 3850 prices again - 03/20/2008 09:39 AM
Some times you'd just wondewr how much money they actually make on graphics cards eh ? At this very moment the Radeon HD 3870 can still can be purchased for little as $189.99, but the 9600 GT has drop...
(.)(.)
Maha Guru
Posts: 2348
Joined: 2010-11-10
Maha Guru
Posts: 2348
Joined: 2010-11-10
#4460211 Posted on: 11/22/2012 02:11 AM
intel!!
so who'll be left then? :p
intel!!
JohnMaclane
Ancient Guru
Posts: 4837
Joined: 2004-05-20
Ancient Guru
Posts: 4837
Joined: 2004-05-20
#4460329 Posted on: 11/22/2012 08:59 AM
Expect to see employee layoffs in pretty much every sector except banking/financial starting in January. While the pi$$ poor economy is a factor in this, somehow the main ****** media has refused to cover why layoffs are looking to dramatically spike up around New Years. The answer is simple...
... Obama Care.
Starting January 1st, businesses large and small will be forced to spend thousands of additional dollars per year on health care benefits for each and every full time employee. All of you small business owners out there are keenly aware of this massive additional expense and many are in my situation where I simply cannot afford it.
AMD like most companies are being faced with the following choices in order to stay in business.
1. Lay off employees - Cuts overhead but the remaining employees will have much higher workloads just to keep afloat.
2. Refuse to comply with the law and/or stop providing healthcare coverage, in which you are assessed a fine of $750+ for each employee who lacks the required coverage. The fine is less expensive than health insurance.
3. Cut full-time employee hours per week to 29 or less in order to avoid the fines from the IRS. Many restaurants, department stores, and service sector companies will be going with this option. Most restaurants would go bankrupt if they comply.
And that's not the worst of it. After getting slammed with all these additional expenses, somehow the Obama Administration doesn't realize that nobody is going to hire new employees, expand their business, or drop a bunch of money into R&D. I predict the Q1-2013 GDP will cross into the negative and by 1H-2013... we will have entered another recession.
... If I'm right and Obama is intentionally going to not reach a deal on the "Fiscal Cliff" come January 1st in order to hit ALL Americans with a massive tax hike... and blaming the Republicans for being true to their Oath not to raise tax rates on any American. It's why he is in Asia instead of being in DC working out a compromise.
Obama causes cancer too?
Expect to see employee layoffs in pretty much every sector except banking/financial starting in January. While the pi$$ poor economy is a factor in this, somehow the main ****** media has refused to cover why layoffs are looking to dramatically spike up around New Years. The answer is simple...
... Obama Care.
Starting January 1st, businesses large and small will be forced to spend thousands of additional dollars per year on health care benefits for each and every full time employee. All of you small business owners out there are keenly aware of this massive additional expense and many are in my situation where I simply cannot afford it.
AMD like most companies are being faced with the following choices in order to stay in business.
1. Lay off employees - Cuts overhead but the remaining employees will have much higher workloads just to keep afloat.
2. Refuse to comply with the law and/or stop providing healthcare coverage, in which you are assessed a fine of $750+ for each employee who lacks the required coverage. The fine is less expensive than health insurance.
3. Cut full-time employee hours per week to 29 or less in order to avoid the fines from the IRS. Many restaurants, department stores, and service sector companies will be going with this option. Most restaurants would go bankrupt if they comply.
And that's not the worst of it. After getting slammed with all these additional expenses, somehow the Obama Administration doesn't realize that nobody is going to hire new employees, expand their business, or drop a bunch of money into R&D. I predict the Q1-2013 GDP will cross into the negative and by 1H-2013... we will have entered another recession.
... If I'm right and Obama is intentionally going to not reach a deal on the "Fiscal Cliff" come January 1st in order to hit ALL Americans with a massive tax hike... and blaming the Republicans for being true to their Oath not to raise tax rates on any American. It's why he is in Asia instead of being in DC working out a compromise.
Obama causes cancer too?
Ven0m
Maha Guru
Posts: 1037
Joined: 2005-08-12
Maha Guru
Posts: 1037
Joined: 2005-08-12
#4460336 Posted on: 11/22/2012 09:09 AM
I do agree that it's an exaggeration, however to compare, social and health taxes over here, in Poland take so big part of salary, that when companies get into troubles, they often have to fire big part of the workforce.
Obama causes cancer too?
I do agree that it's an exaggeration, however to compare, social and health taxes over here, in Poland take so big part of salary, that when companies get into troubles, they often have to fire big part of the workforce.
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Maha Guru
Posts: 2538
Joined: 2004-02-29
Andrew LB is correct but it's not the ONLY reason.