AMD may lay off 30% of workers after poor Q3 results
AMD released their preliminary 3rd Quarter results yesterday, and the data was far from encouraging. According to the company's press release, Q3 earnings are expected to be down by at least 10% and layoffs appear to be ensuing as a result.
Based on multiple anonymous reports, AMD is planning on laying off a sizeable portion of their work force after the troubling earnings with an announcement expected soon. The exact size of the layoffs has not been confirmed yet, but estimates are ranging from as little as 10% to as high as 30%.
Economic conditions are down across the board, but the latest AMD numbers could prove devastating in the long run. The company will obviously have to find new ways to bring in revenue, but with Intel dominating the chip market it definitely won't be an easy bounceback.