|By Maureen O'Gara||
|October 15, 2012 01:36 PM EDT||
AMD is going to make "significant" layoffs, possibly amounting to 10%-20% of the company's workforce, according to what the Wall Street Journal called "a person familiar with the situation."
All Things Digital puts the number closer to 30%.
The Journal suspects that the company, which has already cut into marketing and such, may have to decimate engineering, including its server chip unit.
Last Thursday, AMD projected a 10% sequential revenue decline in Q3, up from guidance of 1%-3%, and lowered its gross margin guidance from 44% to 31%.
It reports its Q3 results on October 18.
Intel, which also guided down after a quarter cannibalized by tablets and smartphones, reports on October 16.
Gartner and IDC said last week that the PC market was down 8%-9% in Q3.
AMD reportedly had 11,700 people at the end of Q2.
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