Feeds

AMD tightens belt, hammers workforce

One in six to lose jobs

  • alert
  • submit to reddit

AMD today announced that 2,000 people, or approximately 15 per cent of staff, will lose their jobs by the end of the second quarter of 2003.

The announcement is part of the company's strategy to reduce its breakeven point and expenses by $350 million in 2003. Approximately 1,000 affected employees located in the US, Europe and Asia were notified today.

AMD will take a Q4 restructuring charge of "several hundred million dollars", the company said.

"While painful and unfortunate, today's action will help to position AMD so that we can take full advantage of the eventual market recovery," said AMD President and CEO Hector Ruiz.

He promised a product blitz over the next six month that will enable it "to compete in segments of the market where we have not yet been before". ®

Related stories

AMD cuts costs, predicts big charge
AMD fiscally hammered, vows to claw way back

Whitepapers

Top three mobile application threats
Learn about three of the top mobile application security threats facing businesses today and recommendations on how to mitigate the risk.
Combat fraud and increase customer satisfaction
Based on their experience using HP ArcSight Enterprise Security Manager for IT security operations, Finansbank moved to HP ArcSight ESM for fraud management.
The benefits of software based PBX
Why you should break free from your proprietary PBX and how to leverage your existing server hardware.
Five 3D headsets to be won!
We were so impressed by the Durovis Dive headset we’ve asked the company to give some away to Reg readers.
SANS - Survey on application security programs
In this whitepaper learn about the state of application security programs and practices of 488 surveyed respondents, and discover how mature and effective these programs are.