AMD has fallen victim to the lagging economy, and 1,400 employees around the globe felt the effects firsthand. AMD cut the employees in a cost cutting measure, hoping to increase profits and shift its workforce around. The cuts across all employee levels are expected to save the company $200 million next year. 300 of the jobs that were cut were made at the Austin, TX plant, where AMD currently employs about 2,300 people across all aspects of the company. The cuts come shortly after a new CEO came in and a few new products were released.