Printed from http://www.electronista.com

AMD layoffs confirmed: 15 percent of workforce getting axed

updated 05:29 pm EDT, Thu October 18, 2012

Move expected to stem the tide of red ink from economy, tablets

As previously rumored, AMD has said that it is planning on cutting its workforce by 15 percent in an attempt to pare operating expenses. The current round of layoffs are the second in less than a year as the industry purchasing trends shifts away from computers and towards tablets. The chip manufacturer expects the restructuring and site consolidation will result in a savings of $190 million next year.

AMD posted third-quarter revenue of $1.27 billion, down from $1.69 billion a year ago. Analysts had expected revenue of $1.28 billion. The quarterly losses posted at $157 million, as opposed to a profit a year ago of $97 million.

Bernstein analyst Stacy Rasgon compared AMD's decline as "watching a slow-motion train wreck." He added that "AMD remains a fundamentally risky choice in our view, and given several ugly quarters, shares are likely to be dead money for some time."



By Electronista Staff
Post tools:

TAGS :

toggle

Comments

Login Here

Not a member of the MacNN forums? Register now for free.

toggle

Network Headlines

toggle

Most Popular

Sponsor

Recent Reviews

D-Link DIR-510L 802.11AC travel router

Having Internet access in hotels and other similar locations used to be a miasma of connectivity issues. If Wi-Fi was available, it wa ...

Ooma Office small business VoIP

Voice over IP (VoIP) services have been around for a very long time. Only recently has the implementation become a bit more robust, al ...

BOXi T-200 travel projector

Projectors have become a key piece of equipment for the business world. From multi-media presentations to the traditional slideshows, ...

Sponsor

toggle

Most Commented

 
toggle

Popular News