More Layoffs on the Way at AMD

Pulkit Chandna

Advanced Micro Devices is in shambles. It seems that these days the world’s second largest chipmaker is churning out more bad news and fewer microprocessors. Despite the fact that the beleaguered company’s current CEO Rory Read has already overseen two major workforce reductions since taking over in August 2011, it is considering another round of layoffs.

AllThingsD is reporting that senior managers at the chipmaker are now getting ready to prune their teams . While the fact that AMD is preparing for another set of layoffs is not surprising, the WSJ-owned site has learnt from multiple sources that this latest round is likely to involve fewer job cuts than the last one, which saw the company hand out as many as 1,700 pink slips.

“As we communicated during our third quarter earnings results, we expect to take further restructuring actions in the first half of 2013,” an AMD spokesperson told AllThingsD in a statement. “At that time, we did not know what specifically they would consist of or if they would be material. We have not provided any updates since then and don’t comment on rumor or speculation.”

The cash-strapped company was recently said to have hired JPMorgan Chase to “explore options” , with even an outright sale not being fully ruled out. However, CEO Read later assured employees that they weren’t “actively pursuing the sale of AMD or any of our significant assets.”

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