AMD layoff: AMD job cut: to fire 1600 employees

The famous chip and processor maker and the competitor to Intel, AMD has declared that it is going for a massive job cut.

It is learnt to slash as many as 10% of the total workforce, or 1600 employees of AMD will be fired from their jobs. The reasons quoted by the company for the job cut is the deteriorating business scenarios, worsening profit margins and cost cutting.

The AMD layoffs will begin this month and the exercise will be completed by September. India too has a large amount of workforce in AMD. Though there are no confirmations about where all the jobs will be cut in terms of geographical locations, the official news is that they will be conducted on a global basis. So Indian centers of Delhi Bangalore and Mumbai may not be spared either.

It said it expects to report revenue of $1.5 billion, down 15 per cent from the last quarter.

AMD said that the revenue drop was caused by lower-than-expected sales across all business segments. The decline was more than expected.

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