Early reports suggested that the company could lay off 30 percent of their workforce, so thankfully that’s been cut in half. AMD is looking to restructure and they believe the layoffs will save them $20 million in Q4 and $190 million next year.
AMD CEO Rory Read issued a statement about the restructuring, blaming changes in the PC industry that happened faster than they anticipated. Due to the “decline” in the PC industry, AMD plans to divert 40 to 50 percent of their portfolio to “faster growing markets,” by which he means communications, industrial, and gaming applications.
via The Verge