backtop


Print 49 comment(s) - last by Regs.. on May 5 at 7:22 AM

The hits keep on coming for AMD

Last week, reports began to swirl around the internet that AMD slashed 5% of its workforce. AMD denied the reports and issued a statement saying, "We did not have a workforce reduction."

It appears that the reports of job cuts were true; however, the size and timing of the layoffs were wrong. According to Information Week, AMD plans to axe off 1,600 employees before the close of September -- this would represent a 10% reduction in AMD's current workforce of 16,000 employees.

The jobs are a necessary move to help lift AMD from the gutter in terms of financial performance. AMD did not disclose which locations or what positions within the company would see the bulk of the workforce reduction.

AMD had a rough 2007 and reported revenues of $1.77B and a $1.722B loss during the closing quarter of the year. 2007 yearly totals saw AMD with $6.012B in revenue and a net loss of $3.379B.

AMD expects that Q1 revenue will come in at roughly $1.5B or 15% lower than Q4 2007 -- the loss came from an unexpected decline in every market that AMD competes.

We will still have to wait a few days longer to hear the full damage report for AMD's Q1 earnings. Despite the already grim forecast, AMD is looking forward to the latter half of the year when it will push its 45nm processors to customers.



Comments     Threshold


This article is over a month old, voting and posting comments is disabled

RE: Capital Investments
By crystal clear on 4/8/2008 2:14:49 PM , Rating: 2
Just to update you on something-

Toshiba samples Cell-based HD GPU

Toshiba has begun sampling the graphics chip it hopes will beat Nvidia and AMD at the GPU game: the Cell-derived SpursEngine SE1000.


http://www.reghardware.co.uk/2008/04/08/tosh_sampl...

The IBM alliance is hard at work - no place for Nvidia.


"If you mod me down, I will become more insightful than you can possibly imagine." -- Slashdot

Related Articles













botimage
Copyright 2014 DailyTech LLC. - RSS Feed | Advertise | About Us | Ethics | FAQ | Terms, Conditions & Privacy Information | Kristopher Kubicki