Job axing a-la AMD

The global economic crisis is taking victims mercilessly. A day doesn't pass without finding out that a few hundred people will not have their jobs for much longer. Intel, nVidia, EA's Today, AMD's again.

Although AMD is just barely succeeding to control their losses, it seems there has to be a work place cut. 500 people will have to leave AMD. This is the second wave of firing after April, when 1500 people lost their jobs. Fortunately, the workers under The Foundry Company wont be hit by these job cuts.

AMD's losses have been cut from 396 million dollars in Q3 '07 to 67 million in the quarter behind us. The latest cuts represent approximately 3% of the global workforce.

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3 Comments

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PrEzi, but they are splitting out the foundry and the Design teams. Interesting it doesn't state if these cuts are from the foundry side or design side. I would think the foundry would announce if the split is complete.

And for the most part if people don't buy anything yes this will get worse. the layoffs feed the fear and people cut back to spending only on necessity items which leads to lower returns for the companies which layoff more people which feeds the fear. viscious cycle to be sure. problem is this is occuring in almost every sector right now

El

I've stop counting the number of people without a job anymore. And with all the axing, where are those people going to go for a new job?

Economic crisis.... And it's not over, some analyst say we are at the tip of the iceberg...

Merry Xmas, you're fired.