AMD to cut thousands of jobs
Advanced Micro Devices (AMD) will very likely cut 2340 jobs which is about about 20 percent of the workforce. Yesterday we already informed you their prognosis Q3 revenue report which was very worrisome. AMD suffers a lot from the dropping demand in PC market and expects that sales will drop with another 10% in the upcoming Q3. We expected loss of jobs, but not this many.
“With PC demand being so weak, we don’t think the company has any choice but to do some considerable cost-cutting measures,” said Betsy Van Hees, an analyst at Wedbush Securities Inc. in San Francisco reports Bloomberg.
Chief Executive Officer Rory Read has already lowered headcount since he was appointed in August 2011 and slashed 10 percent of its workforce in a round of job cuts announced last November. Other websites like CNET report that AMD could even drop 30% of it's workforce.
AMD next week will announce the mass redundancies.
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...