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Advanced Micro Devices Inc. (aka AMD) has stated that it will slash 10 percent of it’s workforce and warned that 1st Quarter sales were lower than expected across all of it’s business lines. AMD which employs 16,800 workers will be cutting over 1,600 jobs starting this month and finishing by September. AMD’s biggest problem is trying to incorporate a large acquisition of chip maker ATI Technologies Inc. AMD has been having a tough couple years as it’s stock price topped out at $40 a share in early 2006 and is currently trading at $6.35 per share.
Within the last week, three airlines have filed for bankruptcy protection. All three have shutdown services and left passengers stranded or with worthless tickets to flights that have been grounded. Aloha Airlines, ATA Airlines, and privately owned Skybus Airlines. Most of the blame is on sky high fuel prices and a slowing economy. Consumers are going to need to get used to higher ticket prices as the supply of airlines starts to dry up. Any further bankruptcy’s could spell further troubles to the supply of flights.
