Chipmaker AMD to cut workforceNovember 4th, 2011 - 2:13 pm ICT by IANS
San Francisco, Nov 4 (IANS) Computer chipmaker Advanced Micro Devices Inc. (AMD) said it plans to cut its global workforce by about 10 percent in a move to reduce operational costs.
The layoff will occur across all functions globally and is expected to be completed by the end of the first quarter of 2012, the company said Thursday.
The cuts will amount to about 1,400 jobs, according to estimates by analysts.
Combined with implementing efficiencies across the company’s operations, AMD expected that the workforce reduction will result in operational savings of more than $200 million in 2012, reported Xinhua.
“Reducing our cost structure and focusing our global workforce on key growth opportunities will strengthen AMD’s competitiveness and allow us to aggressively pursue a balanced set of strategic activities designed to accelerate future growth,” Rory Read, AMD’s chief executive officer, said in a statement.
As the world’s second largest maker of processors for computers, AMD has been suffering from the slowdown of global PC market and is seen as slow to move into new mobile device market.
The operational savings will help accelerate the company’s future growth in emerging markets and in the cloud computing field, AMD said.
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