AMD to Cut Up to 30 Percent of Workforce

AMD to Cut Up to 30 Percent of Workforce

Days after warning of a huge sales and earnings miss, chipmaker Advanced Micro Devices is close to announcing a significant reduction in its workforce that could be be made public as early as next week.

According to sources familiar with the company’s plans, (they asked not to be identified), AMD will announce next week that it will cut between 20 percent and 30 percent of its employees, which, given AMD’s headcount of about 11,100 workers, would amount to between 2,200 and 3,300 jobs.

The cuts, the sources said, will affect employees involved in engineering and sales, groups of employees that have been spared in previous rounds of cuts. Additionally, these people, who are familiar with the company’s operations, suggest that the cuts will be deep enough as to indicate that AMD may be forced to scale back some of its product offerings.

Read the full story on All ThingsD here.