AMD Still Hemorrhaging Employees

Paul Lilly

Forgive us if we're starting to sound like a broken record, but AMD continues to find itself struggling to stay afloat . The chip maker's list of financial woes just keeps piling on, and to date we've witnessed high level executives jumping ship, a new CEO take the reins, billions of dollars in quarterly losses, a Phenom(enal) flop (compared to pre-release hype), a major shift in business operations by splitting into separate design and manufacturing companies, and now another round of layoffs.

AMD has been cutting employees more frequently than some people cut their hair. Earlier this year, the Santa Clara chip maker reduced its workforce by 10 percent, and more recently, the company said it would be cutting another 500 jobs to reduce costs. Now AMD is saying it plans to issue another 100 pink slips, for a grand total of 600 job cuts in this quarter alone.

The additional layoffs means AMD will record $70 million in restructuring charges instead of the $50 million it had previously expected. More charges are expected in the first half of 2009, though AMD didn't say what they would amount to.

Here's hoping Phenom II kicks ass and finally reverses the company's fortunes. If not, one has to wonder just how long AMD can keep this up.

Image Credit: AMD

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