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AMD to lay off 15% of workforce
IDG via Computerworld ^ | 10/18/12

Posted on 10/26/2012 7:21:46 PM PDT by advance_copy

Chip company Advanced Micro Devices on Thursday said it would lay off 15% of its workforce as it tries to inch back to profitability at a time when the PC market is slumping.

The company will lay off close to 1,800 of its 11,813 employees. The layoffs would be completed in the fourth quarter of this year.

The company will also shut down offices as part of the larger restructuring effort. AMD hopes to save $20 million in the fourth quarter and approximately $190 million in fiscal 2013 as a result of the restructuring effort.

"The PC industry is going through a period of very significant change that is impacting both the ecosystem and AMD," said CEO Rory Read in a statement.

(Excerpt) Read more at ...

TOPICS: Business/Economy; News/Current Events; Politics/Elections
KEYWORDS: 2012; obamanomics
1 posted on 10/26/2012 7:21:50 PM PDT by advance_copy
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To: Ernest_at_the_Beach

ernest, you have any thoughts on this?

2 posted on 10/26/2012 7:33:02 PM PDT by krb (Obama is a miserable failure.)
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To: advance_copy

We The People intend to layoff hundreds in our White House and in the US Congress.

3 posted on 10/26/2012 7:33:20 PM PDT by ExTexasRedhead
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To: krb

I have first-hand insight into this.

Mix two parts ARM chip / mobile device user migration....

...with one part Global Foundries (and TSMC for that matter) falling behind Intel in chip fab...

...with one part making bad architectural choices when moving to Bulldozer...

...with one part Intel technically excelling....

...with 2 parts losing key engineers and replacing them with H1B sub-par replacements...

...with 2 parts upper and mid-level manager remoteness...

...and you get where AMD is now.

4 posted on 10/26/2012 8:56:12 PM PDT by Yossarian ("All the charm of Nixon. All the competency of Carter." - SF Chronicle comment post on Obama)
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To: advance_copy
even with Intel doing virtually all their R&D... 0bama strikes again
5 posted on 10/26/2012 9:47:37 PM PDT by Chode (American Hedonist - *DTOM* -ww- NO Pity for the LAZY)
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