Job Cuts at AMD

Author
Aron Schatz
Posted
November 14, 2002
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1373
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If your on the list of people getting fired, I hope you find work easily. 2000 works will lose their jobs.

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The cuts, which had been anticipated, are part of the company's plan to reduce expenses by $350 million next year in an effort to reach profitability on lower sales.

About 1,000 workers whose jobs are being cut were notified Thursday. As previously announced, the company will take a restructuring charge of several hundred million dollars in the fourth quarter.

The move comes as AMD has been losing market share to larger rival Intel amid a generally sluggish PC market.

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