We'd heard AMD would have bad news this quarter, and here it is: a quarterly loss of $157 million, revenues down 10 percent, and a 15 percent workforce reduction. Today, AMD reported Q3 2012 revenue of $1.27 billion, a 10 percent decrease since last quarter and 25 percent since this time last year.
As a result, AMD's announcing a restructuring plan today, letting go of approximately 15 percent of the company's workforce this quarter, which it believes will save $20 million in Q4 and $190 million in 2013. That should translate to about 1,700 fewer employees, as the company employed 11,737 workers as of June. Last November, the company laid off 1,400 employees, and has lost many executives as of late. AMD CFO Thomas Seifert departed just...
via The Verge - All Posts http://www.theverge.com/2012/10/18/3522812/amd-loses-157-million-in-q3-will-layoff-15-percent-of-workers
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