Hardware8.04.2008
AMD to cut workforce
AMD said it will cut approximately 1,650 jobs beginning this month.
The announcement came as AMD warned its first-quarter earnings report due for release April 17 will show sales below expectations.
AMD expects revenues for the quarter ending March 29 to be approximately 1.5 billion dollars, a 15 percent drop from previous quarter.
“AMD had previously anticipated first-quarter revenues to decline in line with seasonality,” the company said in a release.
Electronics industry sales are historically slow in the first three months of a year.
AMD has long battled to wrest market share from leading chip maker Intel, also based in California, and hopes to regain ground with a recently released high-performance “Barcelona” chip.
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