• Most Popular
  • Most Shared

AMD lays off 500 people worldwide

SAN FRANCISCO
Wed Nov 5, 2008 5:26pm EST

Stocks

   

SAN FRANCISCO (Reuters) - Advanced Micro Devices (AMD.N), one of the world's two makers of microprocessors for personal computers, said it cut 500 people effective on Wednesday.

"Today's announced headcount reduction is an unfortunate but necessary part of this process to help us align our people with the focused programs that achieve our objectives, eliminate duplication of efforts and allow us to operate more efficiently," the company said in a statement.

A spokesman declined to give any detail about where the cuts had been made.

(Reporting by David Lawsky; editing by Carol Bishopric)


More from Reuters

Photo

Saab says bid deadline dropped

AMSTERDAM (Reuters) - General Motors has extended a December 31 deadline for bids for its Swedish car brand Saab, which will restart some production lines in January after a shutdown, Saab said on Wednesday.

» More Top News
Maria Montero carries plastic products for quality control inspection at Blow Molded Plastics in Pawtucket, Rhode Island November 17, 2009. REUTERS/Brian Snyder

Learning to survive and thrive

Small manufacturers in states like Alabama are taking a risk on innovation to compete with with low-cost competition. It's working. The second installment in a three-part report.  Full Article 

Route to Recovery
Disgraced financier Bernard Madoff is escorted by police and photographed by the media as he departs U.S. Federal Court after a hearing in New York, January 5, 2009. REUTERS/Lucas Jackson

I beg your pardon ...

Bernie Madoff became the poster boy of crooked investment schemes this year -- but he wasn't alone. Here's a look at the 10 most notorious cases of 2009.  Full Article 

Corporate Crime