Following Disappointed Earnings, AMD May Lay Off 30 Percent Of Its Workforce

Posted on Oct 15 2012 - 5:16am by Editorial Staff

AMD last Thursday announced that the revenue for the third quarter ended September 29, 2012 is expected to decrease approximately 10 percent sequentially. With the news amid, CNET, AllThingsD, Bloomberg and Reuters all are reporting that the chip company planning for a mass layoff of around 30 percent of its workers, around 3,500 workers. All the publications citing “anonymous sources” claimed that the company will announce layoffs soon. The company makes a total of 11,737 employees as of June, so it will easy for you to do calculation if this layoff really comes into existence. The company will likely to announce the layoffs next week after the earnings report.

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Editorial Staff at I2Mag is a team of subject experts led by Karan Chopra.