AMD to cut nearly 1,800 jobs or 15 pct of workers

Oct 18, 2012

Chipmaker Advanced Micro Devices Inc. says it will cut nearly 1,800 jobs, about 15 percent of its workforce, by the end of the year in order to reduce spending in the face of dwindling sales.

AMD is the world's second-biggest maker of for personal computers and PC sales are falling. That's partly due to more consumers shifting away from PCs and doing their computing on tablets and smartphones.

CEO Rory Read says AMD needs to quickly restructure its business because trends that are reshaping the PC industry are happening faster than the company expected.

The job cuts were announced as AMD, which is based in Sunnyvale, California, reported that its revenue tumbled 25 percent in its fiscal fourth quarter that ended Sept. 29.

Explore further: US newspaper industry revenue fell 2.6 pct in 2013

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User comments : 2

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VendicarD
not rated yet Oct 19, 2012
The end is near.
chromosome2
not rated yet Oct 19, 2012
I hate to see AMD go, but I'm not willing to deal with the performance penalty of choosing one of their chips. Do they take donations?

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