Printed from http://www.electronista.com

AMD sells, rents back Austin, TX corporate headquarters

updated 04:05 pm EDT, Tue March 12, 2013

Move generates $164 million for company

Chipmaker AMD revealed on Tuesday that is selling and leasing back the Austin, TX campus to generate a quick $164 million in cash to prop up the company. The company expected in November that it would be able to sell the 58-acre site for between $150 and $200 million. AMD has done this twice before -- selling a Sunnyvale, CA site, as well as another site near Toronto, Ontario.

AMD is in a period of cost-cutting to stem the tide of red ink. The last year has seen AMD lay off 15 percent of its workforce, lose ex-CEO and then-CFO Thomas Seifert, and endure a loss of $157 million. The company is suffering from the "post-PC" era in personal computing, and the shift away from desktop computers to a more tablet-oriented ecosystem.

Analysts have been skeptical of AMD's chances, with one notably saying that AMD's decline is like "watching a slow-motion train wreck." The manufacturer may just need to buy some time -- it has revealed that it is producing parts for the PlayStation 4, is deploying the Temash system-on-a-chip, and has rolled out a new line of Radeon graphic processors in the last two months.



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

IDrive cloud backup and sync service

There are a lot of cloud services out there, and nearly all of them can be used for backing up key files and folders. A few dedicated ...

Asus Chromebook C300

When Chromebooks hit the market back in 2011, consumers didn't know what to do with them. The low-cost laptops, powered by Google's Ch ...

Plantronics BackBeat Pro Bluetooth headphones

Looking for a pair of headphones that can do everything a user requires is a task that can take some study. Trying to decide on in-ear ...

Sponsor

toggle

Most Commented

 
toggle

Popular News