TD Fall Investing GuideTD Fall Investing Guide
Updated: Thu, 18 Oct 2012 22:09:55 GMT | By The Associated Press, thecanadianpress.com

AMD to cut nearly 1,800 jobs or 15 pct of workers

SUNNYVALE, Calif. - Chipmaker Advanced Micro Devices Inc. says it will cut nearly 1,800 jobs, about 15 per cent of its workforce, by the end of the year in order to reduce spending in the face of dwindling sales.


SUNNYVALE, Calif. - Chipmaker Advanced Micro Devices Inc. says it will cut nearly 1,800 jobs, about 15 per cent of its workforce, by the end of the year in order to reduce spending in the face of dwindling sales.

AMD is the world's second-biggest maker of microprocessors for personal computers and PC sales are falling. That's partly due to more consumers shifting away from PCs and doing their computing on tablets and smartphones.

CEO Rory Read says AMD needs to quickly restructure its business because trends that are reshaping the PC industry are happening faster than the company expected.

The job cuts were announced as AMD, which is based in Sunnyvale, Calif., reported that its revenue tumbled 25 per cent in its fiscal third quarter that ended Sept. 29.

Find the cheapest gas price near you!Find the cheapest gas price near you!
Scroll upScroll down

Recently recommended stories

advertisement