AMD to cut 15 percent of its Workforce

Blaming the tumbling PC sales, Sunnyvale based chipmaker AMD (Advanced Micro Devices) has made an announcement to trim its workforce by nearly 15 percent. According to AMD’s most recent annual report, AMD has nearly 20,000 employees.

It is reportedly said that AMD is expected to record restructuring expenses of about $80 million in the fourth quarter.

According to latest chunk of information, AMD is planning to take this step to reduce expenses backed by weak global economy and a consumer shift toward tablets. As a matter of concern, it is found; AMD recorded a loss and saw its revenue decline in the third quarter 2012.

Besides the latest job cut, AMD is also planning other restructuring actions including site consolidations.

Reliable insiders informed, the restructuring plan by AMD will result to operational savings of $190 million next year.

Industry experts believe, the latest layoff announcement has come on top of 1,400 job cuts, the company announced in November. To the reader’s surprise, AMD has also laid off 2,300 workers in September.