AMD to Cut More Jobs
The chip maker, which lost more than $254 million in the third quarter, is expected to cut more jobs as part of a restructuring plan.Advanced Micro Devices Inc., which lost more than $254 million in the third quarter amid a 34 percent drop in sales, is expected to cut more jobs as part of a restructuring plan. The company hinted at the jobs cuts during its Oct. 16 earnings call when officials said they expected to take a restructuring charge this quarter as part of its cost reduction plans.
AMD spokesman Drew Prairie on Wednesday confirmed that more layoffs were expected, but declined to give further details. He also would not say whether those details would be released during the companys meeting with financial analysts on Thursday.