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AMD confirmed to make cuts on its workforce
AMD is in the middle of a restructuring process which is expected to affect its employees, as the company plans to reduce its workforce by 10% soon. While rumors have been floating around for a while, in fact AMD went as far as denying future layoffs, no concrete statements had been made until just today when AMD posted an update to its first-quarter financial results.
AMD products have continued to slip against Intel as well as Nvidia over the past 18 months, making it increasingly hard for the company to overcome its financial difficulties.
The layoffs are expected to occur within the next two weeks as the company hopes that with less employees on its payroll and an upcoming boost on CPU sales, that will help them to turn a profit after reporting a $3.3 billion loss in 2007 from $6 billion in revenues (that included the ATI acquisition costs however).
AMD products have continued to slip against Intel as well as Nvidia over the past 18 months, making it increasingly hard for the company to overcome its financial difficulties.
The layoffs are expected to occur within the next two weeks as the company hopes that with less employees on its payroll and an upcoming boost on CPU sales, that will help them to turn a profit after reporting a $3.3 billion loss in 2007 from $6 billion in revenues (that included the ATI acquisition costs however).
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