San Francisco (dpa) - Computer chipmaker Advanced Micro Devices is
to announce plans to lay off some 30 percent of its workforce next
week, according to a report late Friday in The Wall Street Journal
blog All Things D.
The report quoted sources familiar with the company's plans as saying that the cuts would affect 20 to 30 percent of AMD's 11,100 workers, meaning that between 2,200 and 3,300 employees could be made redundant.
The cuts follow an earlier round of layoffs less than a year ago that cut the number of employees by 1,400.
AMD is the main competitor to Intel for the chips that power PCs, but both companies have seen sales fall due to the economic downturn and the shift by consumers to smartphones. AMD issued a warning Thursday that third-quarter revenue will fall about 10 percent from the second quarter due to the sagging PC market.
Most Popular Stories
- SEO Traffic Lab Celebrate Wins at Digital Marketing Event 'Internet World 2013' in London
- Social Media Initiatives Should Follow Customers' Lead
- Apple CEO: Offshore Units Not a 'Tax Gimmick'
- U.S. Senate Accuses Apple of Large-scale Tax Avoidance
- UTEP Water Recycling Project Wins Venture Titles
- Marketo Makes a Mint in IPO: Stock Shoots Up More than 50 Percent
- Bieber Booed at Billboard Awards
- Crude Oil Up, Gasoline Down
- Austin Startup Compare Metrics Raises $3.5 Million for Expansion
- Why So Many Top 'Car Guys' Are Actually Women