Friday, 4 November 2011

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.

Continue reading AMD to cut workforce by 10 percent, invest savings in emerging markets and the cloud

AMD to cut workforce by 10 percent, invest savings in emerging markets and the cloud originally appeared on Engadget on Thu, 03 Nov 2011 17:28:00 EDT. Please see our terms for use of feeds.

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Source: http://www.engadget.com/2011/11/03/amd-to-cut-workforce-by-10-percent-invest-savings-into-emerging/

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