News
AMD decimates work force
Andrew Wooden Apr 8 2008, 1:05pm
Comments (3)
Chip giant confirms staff cull, slashing ten per cent of its labour force
Following speculation from numerous internet sources, AMD has officially confirmed it is to axe ten per cent of its 16,800 strong global workforce.
Approximately 1,680 jobs will be cut between mid April and Q3 this year – a move the firm says is down to lower revenue expectations in ‘uncertain market conditions.’
“Approximately ten percent of AMD’s current headcount will be affected, spanning a number of global locations and all groups will be impacted relative to their business operations and needs,” an AMD spokesperson told PC Retail.
As yet it is unclear as to where exactly these job losses will take place. When asked, AMD responded: “In terms of how people are being impacted in individual offices, the details are still being finalised and we won’t speculate.”
The confirmation came alongside the announcement that the firm expected revenue for Q1 to be around $1.5 billion – down 15 per cent compared to Q4 2007. Quite candidly, it blamed the expected drop in revenues on lower than expected sales across all business segments.
"As a result of the workforce reduction, AMD expects to record a restructuring charge in the second quarter," continued the spokesperson. "At this time, we are unable to determine the estimated amount of the charge as details are currently being finalised."
The official financial figures for Q1 will be released on April 17th.
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Comments
“Decimate”
Posted by: HarryB - Apr 8, 3:29pm
Nice to see the word decimate being used in its 'correct' text, well sort of unless AMD's management is going to resort to Roman methods for 'removing' staff.
Anyway, this should be seen as a good thing. It shows that AMD isn't afraid to take action that could be seen as bad for the good of the company. I feel sorry for those who've lost their jobs but a company is like a heart... it might be easier just to leave the excess 'fat' be but it'll only come round to bite you in the arse at a later date.
“Re: Decimate”
Posted by: Garry Marshall - Apr 8, 3:52pm
"Nice to see the word decimate being used in its 'correct' text, well sort of unless AMD's management is going to resort to Roman methods for 'removing' staff."
Well that would certainly bring new meaning to 'your fired'
“Re: Decimate”
Posted by: Kev - Apr 8, 4:08pm
Refreshing to see a firm being so honest about job cuts, and the reasons behind them