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AMD officially confirms layoffs


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Lowers Q1 outlook

 

AMD today confirmed it will reduce its workforce by around 10 percent and it updated its Q1 outlook in the same statement.

It expects its Q1 revenue to reach approximately $1.5 billion, 22 percent more compared to Q1 of 2007, but 15 lower than in Q4 2007. It attributed the decline to seasonality and lower than expected sales.

The chipmaker confirmed it will layoff around 10 percent of its workforce (some 1650 souls) by the end of Q3 2008.

Also read:

ABC news confirms AMD 10 percent layoffs

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