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: Alibaba's Ma rides 'Forrest Gump' story to riches

5 /5 (1 vote)
add to favorites email to friend print save as pdf

Related Stories

AMD names new CEO from Lenovo

Aug 25, 2011

(AP) -- Chipmaker AMD says its new chief executive will be Rory P. Read, the chief operating officer of Lenovo Group.

AMD cutting 1,400 workers in first move by new CEO

Nov 03, 2011

(AP) -- Advanced Micro Devices Inc. is cutting some 1,400 workers as a weak computer market and manufacturing delays have hurt the world's second-biggest maker of microprocessors for PCs.

AMD sales better than expected, CPU demand rises

Oct 15, 2009

(AP) -- Advanced Micro Devices Inc. lost money in the third quarter but said Thursday that sales were stronger than expected, adding to mounting evidence that consumer spending is fueling a turnaround in ...

AMD cuts 3Q guidance, blames weak consumer sales

Sep 23, 2010

(AP) -- Advanced Micro Devices Inc. has lowered its third-quarter outlook, supplying fresh evidence that consumers' penny-pinching on personal computers has led to a painful back-to-school shopping season for some technology ...

AMD nearly doubles profit, but still seeking CEO

Apr 21, 2011

Advanced Micro Devices Inc. on Thursday reported that its net income nearly doubled in the first quarter as the computer industry benefits from strong corporate demand. But the company is still without a permanent ...

Sales of new chip lift AMD to 2Q profit

Jul 21, 2011

Advanced Micro Devices Inc. has been punished so hard for unexpectedly ousting its CEO more than 6 months ago that the second-quarter profit it posted Thursday gave investors a measure of confidence about its direction.

Recommended for you

Alibaba makes Wall Street debut

2 hours ago

Alibaba made its long-awaited Wall Street debut Friday on the heels of a record stock offering that opens the door to global expansion for the Chinese online retail giant.

Alibaba IPO to boost employee fortunes to $8 bn

5 hours ago

Employees of Chinese e-commerce giant Alibaba will see their fortunes swell to nearly $8 billion as the company prepares a massive US stock offering that could be valued at $25 billion.

Alibaba mega IPO caps founder Jack Ma success tale

8 hours ago

When Jack Ma founded Alibaba 15 years ago he insisted the e-commerce venture should see itself as competing against Silicon Valley, not other Chinese companies. That bold ambition from a time when China was ...

User comments : 2

Adjust slider to filter visible comments by rank

Display comments: newest first

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?