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Article

Big Layoffs Expected at AMD

Last Thursday, AMD projected a 10% sequential revenue decline in Q3, up from guidance of 1%-3%
By Maureen O'Gara
Article Rating:
October 15, 2012 01:36 PM EDT
Reads:
 2,856

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.

Published October 15, 2012 – Reads 2,856
Copyright © 2012 SYS-CON Media, Inc. — All Rights Reserved.
Syndicated stories and blog feeds, all rights reserved by the author.

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Maureen O'Gara the most read technology reporter for the past 20 years, is the Cloud Computing and Virtualization News Desk editor of SYS-CON Media. She is the publisher of famous "Billygrams" and the editor-in-chief of "Client/Server News" for more than a decade. One of the most respected technology reporters in the business, Maureen can be reached by email at maureen(at)sys-con.com or paperboy(at)g2news.com, and by phone at 516 759-7025. Twitter: @MaureenOGara

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