AMD to cut thousands of jobs

by Hilbert Hagedoorn on: 10/13/2012 11:35 AM | source: | 140 comment(s)

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.

Tagged as: AMD

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lucidus
Senior Member

Posts: 11835
Joined: 2011-12-31

#4430340 Posted on: 10/13/2012 01:52 PM

It's the management that needs to go.

phill1978
Senior Member

Posts: 715
Joined: 2009-10-11

#4430345 Posted on: 10/13/2012 01:59 PM

It's the management that needs to go.

but then who would run the company ?

that's what all management think! ive rarely seen a good management team, they are a very scarce thing.

Mikedogg
Senior Member

Posts: 2844
Joined: 2011-11-01

#4430357 Posted on: 10/13/2012 02:08 PM

The thing is, if AMD goes out of business then Nvidia will end up fully dominating the market which means, higher prices, and no one that can offer and alternative.

AMD need all the help they can get. They offer low price competing hardware - and their drivers are becoming rather good.

I think my next upgrade will be all AMD besides the CPU; unless (and that's a BIG unless) AMD can bring out a good CPU in the immediate future.

-=WolverinE=-
Member

Posts: 76
Joined: 2012-10-03

#4430358 Posted on: 10/13/2012 02:08 PM

I'm not an AMD fan, but I respect them as a company, alternative and competitor. This is sad news, because the company is dying and good people are losing their jobs. I hope they get back on their feet soon.

alanm
Senior Member

Posts: 11265
Joined: 2004-05-10

#4430366 Posted on: 10/13/2012 02:27 PM

The thing is, if AMD goes out of business then Nvidia will end up fully dominating the market which means, higher prices, and no one that can offer and alternative.

Not necessarily. When companies "die" they usually get broken up and sold. Hopefully AMDs GPU business would look enticing for the likes of Intel. Dont know who would be interested in their CPU business since its a tough one manage competitively.

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