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[Softpedia]30% of AMD's Workers Getting Fired, Announcement Next Week  

post #1 of 3
Thread Starter 
Yikes, things are not looking very promising for AMD. frown.gif

http://news.softpedia.com/news/30-of-AMD-s-Workers-Getting-Fired-Announcement-Next-Week-299140.shtml
Quote:
The IT industry has been harsh over the past few years, forcing certain companies out of the market and others, like Advanced Micro Devices in this case, into taking radical actions to stay afloat.

Yesterday (October 12, 2012) we reported on the preliminary financial report that AMD has put together and on how it doesn't have many good things to say.
Long story short, revenues fell by 10% during the third quarter of the year, much more than the 1-3% projected initially.
We suspected that there would be consequences, but we didn't think they would be more serious than a drop in the share price. Unfortunately for those employed at Advanced Micro Devices, that is not the case.

According to an unidentified source, who spoke to AllThingD, the Sunnyvale, California-based CPU, APU and GPU maker will lay off about 30% of its workers.

The announcement will be made next week, possibly on October 18 (when AMD makes the proper, quarterly financial announcement), and is a severe jump from last year's plan, which 'only' involved 10% redundancies. The cuts will affect, for the most part, the sales and engineering department. For those who want the numbers, the first series of layoffs involved 1,400 workers. This new one will increase that amount by 2,200 to 3,300.
post #2 of 3
Thread Starter 
Already posted. Please move here or delete it:
http://www.overclock.net/t/1315608/engadget-amd-could-slash-up-to-30-percent-of-its-workforce/40
post #3 of 3
Firing engineers is not an indicator that AMD will be with us for a long time into the future . . .
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