Quick Note: AMD To Trim Workforce by 10%, Expects $200M Operational Savings
November 3, 2011 9:35 PM
"Good luck with your layoffs, all right? I hope your firings go really well."
In August, AMD announced that it was getting making former Lenovo President and COO Rory Read its
new President and CEO
. At the end of October, AMD announced that its net income of $97 million was
constrained by yield issues with its 32nm manufacturing process
Now the company has announced that it will axe 10 percent of its global workforce as a part of a new restructuring plan that will eventually save $200 million in operational expenses for calendar year 2012. AMD also plans to sever some of its contractual obligations to save money.
"Reducing our cost structure and focusing our global workforce on key growth opportunities will strengthen AMD's competitiveness and allow us to aggressively pursue a balanced set of strategic activities designed to accelerate future growth," said Read.
The restructuring plan will also allow AMD to focus more on cloud computing, emerging markets, and low-power systems. The focus on lower power consumption is a key as companies like HP are
now looking to low-power ARM architecture
for upcoming server products, which could spell trouble for traditional x86 processor manufacturers like AMD and Intel.
"When an individual makes a copy of a song for himself, I suppose we can say he stole a song." -- Sony BMG attorney Jennifer Pariser
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