Home
Laptops
Laptops News
AMD posts big loss, to cut 15 percent workrforce

AMD posts big loss, to cut 15 percent workrforce

By Associated Press | Updated: 19 October 2012 10:59 IST

Click Here to Add Gadgets360 As A Trusted Source

Chipmaker Advanced Micro Devices Inc. says it will cut nearly 1,800 jobs, about 15 percent 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 percent in its fiscal third quarter that ended Sept. 29.

Comments

Get your daily dose of tech news, reviews, and insights, in under 80 characters on Gadgets 360 Turbo. Connect with fellow tech lovers on our Forum. Follow us on X, Facebook, WhatsApp, Threads and Google News for instant updates. Catch all the action on our YouTube channel.