AMD to restructure, reduces headcount by 7%

As a part of the company's restructuring plan, AMD will reduce global headcount by 7%, largely expected to be completed by the end of Q4 2014. As part of this the company plans to align its real estate footprint with its reduced headcount. This will result in a restructuring and impairment charge of approximately USD 57 million in Q4 2014, primarily related to severance. Also a restructuring charge of approximately USD 13 million in 1H 2015, which will be related to the real estate actions; “While decisions that impact the size of our global team are never entered into lightly, this is the right step to ensure we prioritize our resources and engineering investments in our highest-priority opportunities that can drive improved profitability and long-term growth,” said Dr. Lisa Su, AMD president and CEO.