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AMD sheds more jobs
20 January 2009 | By Mark Osborne | Recruitment News
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As a prelude to fourth-quarter 2008 financial results due this week, AMD has said it will write down the worth of its graphics chip division by US$622 million. According to Reuters, the writeoffs, which AMD calls ARCs (acquisition related and integration charges) from the ATI purchase in 2006, now total US$3.17 billion.
The loss-making fabless semiconductor company will also shed 1100 jobs and implement various reductions in pay for executives and employees in North America. A voluntary pay reduction scheme will be offered outside North America.