AMD officializes layoffs

By Julio Franco
Nov 14, 2002
  1. AMD today announced that it will reduce its global work force by approximately 2,000 positions, or approximately 15 percent, by the end of the second quarter of 2003. Today’s announcement is part of the company’s ongoing strategy to reduce its breakeven point and reduce expenses by $350 million in 2003. Approximately 1,000 affected employees were notified today. As previously announced, the company will take a restructuring charge in the fourth quarter of several hundred million dollars.
    Today’s reduction in work force was implemented across AMD operations in the United States, Europe and Asia.
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