AMD Joins The Layoffs Trend Again
AMD is the latest company to announce that some of its employees will be soon looking for new jobs. The chip maker stated that around 3% of its entire workforce will be affected.
November 7, 2008
This is the second round of layoffs at AMD this year. The first wave hit the company in April, when 1,600 staffer had to pack up and move on to another job.
Things haven't been going well for AMD for almost two years now. Back in 2006, the chip maker spent a fortune to buy graphics card company ATI. In spite of all hopes, things got off with a rocky start.
The $5.4 billion ATI acquisition was followed by 8 consecutive quarters with “financial loss” as main feature.
Besides the financial trouble, AMD also proved very slow in releasing new chips to fight its Intel rival, which was set free to conquer a bigger slice of the market share.