News Article
AMD lays off 500 jobs
The company said it plans to cut 500 jobs worldwide in abid to reduce expences.
AMD said the decision was made due to the company's plan to achieve a $1.5 billion 'break even'.
"The headcount reduction is part of the company's efforts to reduce our cost structure," a company's spokesman said "We are examining all of our activities to make certain that each supports our objectives, and stop those activities that don't."
AMD follows the company's announcement that it was spinning off its manufacturing operations in the form of a multi billion dollar joint venture with an Abu Dhabi investment firm, as part of the so called 'asset-smart' strategy.
AMD has struggled to remain consistently profitable, and to keep up with arch rival Intel . The company recently reported a third quarter loss of $67 million.
