Following speculation from numerous internet sources, AMD has officially confirmed it is to axe ten per cent of its 16,800 strong global workforce.Approximately 1,680 jobs will be cut between mid April and Q3 this year – a move the firm says is down to lower revenue expectations in ‘uncertain market conditions.’
“Approximately ten percent of AMD’s current headcount will be affected, spanning a number of global locations and all groups will be impacted relative to their business operations and needs,” an AMD spokesperson told PC Retail.
As yet it is unclear as to where exactly these job losses will take place. When asked, AMD responded: “In terms of how people are being impacted in individual offices, the details are still being finalised and we won’t speculate.”
The confirmation came alongside the announcement that the firm expected revenue for Q1 to be around $1.5 billion – down 15 per cent compared to Q4 2007. Quite candidly, it blamed the expected drop in revenues on lower than expected sales across all business segments.
"As a result of the workforce reduction, AMD expects to record a restructuring charge in the second quarter," continued the spokesperson. "At this time, we are unable to determine the estimated amount of the charge as details are currently being finalised."
The official financial figures for Q1 will be released on April 17th.
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