Advanced Micro Devices Inc. to Cut 10 Percent of Workforce
Monday, April 7th, 2008Advanced 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.
