AMD prepares to lay off workers

Reports in the US press, citing statements from a company spokesperson, indicated that AMD is set to proceed with layoffs.

The reports included the statement from an AMD spokesperson: "As a part of aligning our resources with our largest growth opportunities, we are unfortunately taking a series of steps that will reduce our global workforce by approximately 4 percent."

Pointing out that approximately 1,000 employees will be affected by the layoffs, the reports noted that people familiar with the matter stated the cuts are concentrated on sales and marketing positions in areas such as consumer and gaming computers.

The reports emphasized that AMD ranks second after Nvidia in the production of graphics processing units.

In its financial results announced at the end of October, AMD reported an 18 percent year-over-year increase in revenue and a 158 percent increase in net profit for the third quarter.

The company had announced that it sees significant growth opportunities in the data center and client segments.

News Source: AA