AMD laying off 10% of Workforce, Cuts Revenue Estimates

AMD lowered its forecast for first-quarter performance today and announced that it intends to cut approximately 10 percent of its workforce (1,600 to 1,700 workers) by the end of the third quarter. The company said that it expects first-quarter revenue to come in at $1.5 billion. That's a healthy 22 percent increase compared to Q1 2007, but is still 15 percent lower than the fourth quarter of 2007. Previously, AMD had been expected to report first quarter revenue of approximately $1.6 billion dollars.

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decapitator3452d ago

Impressive speed but unfortunatately, this will ancient in a few weeks with the rate that new techs are coming out.

kewlkat0073451d ago

don't you love competition....