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© alexey utemov dreamstime.com Business | October 02, 2015

AMD to restructure again - laying off 5% globally

Advanced Micro Devices – or AMD – is planning to reduce its workforce by 5% in a new restructuring plan.
The chipmaker said in a filling that the plan includes organisational – actions such as outsourcing certain IT services and application development. Along with this AMD also anticipates a charge for the consolidation of certain real estate facilities. The company expects to face about USD 41 million in costs related to the restructuring.

The company does not specify on the total number of job cuts, but AMD had roughly 9'500 employees back in June 2015, which would suggest that it would be nearly 500 employees that will have to go.

The Company expects savings of approximately USD 58 million in fiscal year 2016 related to the plan – which is expected to be completed by the end of fiscal year 2016.
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