AMD To Cut 10% of its People
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The company, which reports on April 17, also pre-announced its Q1 results and said the revenue number of $1.5 billion, although up 22% year-over-year, would be down 15% compared to Q4 because of “lower-than-expected sales across all business segments.”
The decline exceeds any seasonality, which is what AMD was predicting – only a seasonal drop after the holidays.
A couple of weeks ago we said that layoffs were coming after checking out a Register story that already had them in progress but The Register, which traced the move to a pre-emptive attempt to get costs under control ahead of a bad miss, only had AMD laying off 5%.
AMD has roughly 16,420 employees.
AMD royally screwed up the quad rollout that was supposed to save it from Intel’s competition. The chips, five quarters late, are only now moving out.
Lehman Brothers thinks AMD has suffered greater-than-expected market share losses in high-end servers and the so-called value desktop.
The brokerage was predicting a loss of 36 a share in Q1 hours before AMD made its announcement.
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