AMD To Cut 500 JobsCategory: General News
Posted: November 6, 2008 01:04PM
The current economic climate means many companies are facing cut backs, and the resurgent dominance of Intel just adds to AMD's problems. The company reported a $67 million loss for the third quarter (a common theme as of late) and also announced it would see a reduction of 500 positions worldwide. AMD had already announced plans to shed 1600 jobs earlier in the year, as well as saying it will be splitting off its manufacturing units last month. AMD is hoping these moves, along with upcoming products (ATI graphics chips and 'Shanghai' server processors) will help them to relieve the financial pressures they have been under.