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AMD to trim about 600 jobs, 100 more than planned
Advanced Micro Devices, the second-largest producer of personal-computer processors, will cut about 600 jobs, 100 more than previously planned, as it struggles to return to profitability.
The cuts will result in an expense of about $70 million in the fourth quarter, including $34 million from severance costs and the continuation of some employee benefits, the company said Monday in a regulatory filing. Sunnyvale-based AMD said earlier that the job reduction would cost $50 million. The company, on course for its third-straight annual loss this year, is striving to keep up with larger rival Intel as demand for PC chips slumps. Intel has captured market share by adopting newer technologies more quickly.
Posted by | Tue, Dec 30, 2008 - 09:31 AM
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