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AMD to cut 10% of workforce
08 April 2008 | By Síle Mc Mahon | Recruitment News
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The AMD rumor mill has been proved correct in its doubt for the future of the company’s staff. A planned 10 percent cut in the company workforce was confirmed yesterday, which could mean close to 1,600 layoffs in store for the company by the end of the third quarter of 2008.
AMD also plans a restructuring change in the second quarter of 2008,
but has not yet disclosed details of the cost of the job cuts and
restructuring. Continued heavy losses and declining market share have
necessitated these drastic measures.
AMD also said that first
quarter sales would be lower than expected and down 15 percent compared
to the fourth quarter of 2007. AMD had previously expected first
quarter revenue to decline in line with seasonality.