AMD to cut workforce by 10 percent, invest savings in emerging markets and the cloud
After hitting a speed bump Q2 and making a modest bounce back in Q3, AMD doesn't seem to want to take any chances with Q4: the CPU firm just announced it's optimizing its cost structure to "enhance competitiveness and accelerate growth." In a press release, the outfit stated that it expects to save $10 million in the fourth quarter by cutting its global workforce by 10 percent and killing off a few contractual commitments. AMD says that the workforce reduction is global, and reaches all divisions of the company -- giving employees everywhere an excuse to rattle their boots. Combined with an efficiency heavy restructuring plan, the outfit predicts that the employee reduction will save more than $200 million in operational savings in 2012. AMD says it plans to reinvest a significant helping of the savings in projects targeting lower power, emerging markets and the cloud. Hit the press release after the break for official numbers and restructuring riffraff.