by Staff Writers
New York (AFP) Nov 3, 2011
US computer chipmaker Advanced Micro Devices is slashing 10 percent of its workforce, or about 1,400 jobs, in a cost-cutting move brought on by the weak personal computer market.
The Sunnyvale, California-based AMD said Thursday that the job cuts and other moves should result in more than $200 million in operational savings in 2012.
"Reducing our cost structure and focusing our global workforce on key growth opportunities will strengthen AMD's competitiveness," AMD chief executive Rory Read said in a statement.
AMD said the job cuts will take place globally and will be carried out between now and the end of the first quarter of next year.
The world's second-largest producer of microprocessors for personal computers after US chip titan Intel, AMD has nonetheless been suffering from relatively flat demand for PCs.
According to Gartner, worldwide PC shipments grew 3.2 percent in the third quarter to 91.8 million units, lower than the research firm's projection of 5.1 percent growth.
AMD shares were up 0.52 percent at $5.76 in after-hours trading.
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A SHARP New Microscope for the Next Generation of Microchips
Berkeley CA (SPX) Nov 02, 2011
Moore's Law, hardly a law but undeniably a persistent trend, says that every year and a half, the number of transistors that fit on a chip roughly doubles. It's why electronics - from smart phones to flat screens, from MP4 players to movie cameras, from tablets to supercomputers - grow ever more varied, powerful, and compact, but also ever less expensive. Whether the trend can continue unt ... read more
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