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Advanced Micro Devices Inc Announces Layoffs As PC Sales Stumble-Reuters


Thursday, 18 Oct 2012 05:18pm EDT 

Reuters reported that Advanced Micro Devices Inc will cut its workforce by 15% in a bid to reduce operating expenses, its second round of layoffs in less than a year as it struggles with a weak global economy and a consumer shift toward tablets. The chipmaker, with a staff of nearly 12,000, said in a statement it expects its restructuring actions, which will also include site consolidations, to result in operational savings of $190 million next year. It expects to record a restructuring expense in the fourth quarter of about $80 million. 

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