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The company is expected to announce the number of lay offs in the next week -- around the time it will be reporting its quarterly financial results

Advanced Micro Devices (AMD) will be cutting as much as 30 percent of its staff before the end of the year.

AMD, which makes processors for PCs and servers, is getting ready to lay off anywhere from 20 to 30 percent of its employees in the next few weeks. The company is expected to announce the number of lay offs in the next week -- around the time it will be reporting its quarterly financial results.

This marks AMD's second big staff cut in a year's time. About a year ago, it cut 10 percent of its employees. At the end of Q2 2012, the company said it had 11,737 employees.

Why is AMD making such drastic reductions in staff? Mainly because it is struggling to compete with other chip makers like Intel. Intel has not only grabbed the PC and server markets, but has also dipped into the mobile market as well, offering tablet and smartphone chips. AMD, on the other hand, hasn't made a push for mobile yet. This is clearly problematic, considering the PC market has been in decline in favor of mobile devices, and chip makers like Intel and AMD have to adapt to stay alive.


In addition to competition, SemiAccurate reported that AMD's board is a huge reason as to why the company was forced to make staff cuts. The report said that AMD's board is "incompetent" and that the company "staffed senior management with toadies who would do their bidding rather than do the right thing." SemiAccurate noted that AMD is mainly cutting engineers, and that AMD likely will not survive with this cut.

AMD has already announced ahead of its quarterly earnings report that that revenue would decrease 10 percent instead of the previously forecasted four percent decrease to two percent increase.

However, AMD is hoping for a brighter future with its first mobile chip release for Windows 8 tablets this year.

AMD is expected to announce quarterly earnings this Thursday.

Source: SemiAccurate



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RE: Close but not quite right
By tjacoby on 10/15/2012 11:26:54 PM , Rating: 2
quote:
You''re leaving out the fact that he put a war on the books that wasn't being accounted for previously.


Can you explain this to me, exactly how you mean it? I have heard/read this claim elsewhere, I am curious as to the specifics of it.

quote:
You're also forgetting that no government official is going to cut off cheap foreign labor... which means the U.S. economy would never have rebounded in four years. This country's economy will rebound when wages in these poor areas normalize. Prices did not decrease when products were moved overseas, the profit margin did. When that profit margin is affected, the screaming chorus has been to cut regulation and taxes. Making a healthy profit is one thing... expecting to make an obscene profit at the expense of the common good is really a bad thing. Excess is detrimental in most things.


Sorry, which things are you talking about? There is a natural balance to all things, and I will agree that excess is detrimental, but not on these scales. No way the entire economy has been dealing with such excess that virtually every sector is going through a correction. Even IF that were the case, then the proper way to deal with a market CORRECTION is to get out of the way and let it happen... Not throw good money after bad, as this administration (and the one before) did. A "stimulus" is flawed by its very concept because it is designed to prop up a correction, a correction that is required for the economy to return to balance. Unfortunately, there are areas of the economy that crashed as a result of the very idea that the economy can be permanently pushed in a certain direction, when in reality it operates in a very simple way (that companies and individuals will act in their own self-interest [not to be confused with "at any cost", and how one defines "self" can extend infinitely, such as to family, employees, friends, communities, shareholders, country, etc]. To find the balance, you must resign to the fact that you have very little influence over it in ways outside of your spending dollar. Every rule put in place, companies or people will find a way around it (or a way to pass the cost/risk to someone else).

quote:
You definately are forgetting that the conservative base has consistently refused to work with the current administration. There has never been any compromise on their part. That's a shame, since Republicans used to be for minimal government before they were hijacked by these wack-a-loon religious types. These new religious conservatives have no understanding of government, citizenship or the concept of the common good of this nation. We have nut jobs gutting our education over 'teach the controversy' when none exists and driving qualified people from the teaching profession by killing the pay and benefits. They clamour for the government to 'honor' the bonus contracts of the bankers that led the financial meltdown and yet call for cuts to the negotiated contracts with union workers.


Oh my, where to begin with this one...

There is no "working with" WRONG. Its like saying, "ok, we can amputate both legs [left], give you a Porsche [right, and not republican, but truly conservative], or take a leg and give you a motorcycle". You don't choose a compromise between right and wrong, its either right, or wrong. Plus, let's not forget that the Democrats have been in charge since ~2006, so while Obama did not have as much time with a majority as some may say (I will give that point), they ALL knew what they wanted to accomplish as soon as he was put into office and, in all likelihood, had the legislation at least drawn up to be presented. Let's not forget that Obama has also been decidedly unshy about circumventing his constitutional powers and issuing executive orders when "Congress refuses to act" (Dream Act, anyone??). There is a reason why Obama's budget proposals have never received even one vote, and a reason why Harry Reid has not passed a budget (as required by law) since he came into power.

By "religious wack-a-loon" types, I assume you are referring to the Tea Party movement. Do you know what the movement even stands for? What their PRINCIPLES are? Or are you more in tune with the "99%" crowd? If they tend to be religious, so be it. They are not calling for mandatory Christianity courses for people, they are calling for a return to the INALIENABLE rights granted to us by our CREATOR, however you may define that. Its pathetic how people are able to soak in what the media has to say about a very PEACEFUL movement while simultaneous glorifying a bunch of violent, lazy-ass petulant college kids who don't have a clue about anything?

"The common good"... interesting. Can you please define where that starts and where that ends? As much as you may scoff at the idea of a "slippery slope", name one time a government has relinquished power it has bequeathed to itself? So, if it is in the common good for you to, let's say, weigh a certain amount because your morbid obesity drives up healthcare costs, should the government be allowed to regulate what you eat, or mandate or "tax" you to join a gym? Don't think that would happen? Look at the "iffy-at-best" science of global warming and how it is manhandling the auto industry. Or coal industry. Or any industry really that does not make up the <1% of green energy production.


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