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© alinoubigh dreamstime.com Components | October 15, 2012

AMD could cut up to 20 percent of workforce

Advanced Micro Devices may cut up to 20 percent of its workplace according to a media report.
Bloomberg, citing a person with knowledge of the matter, reports that AMD is planning to cut up to 2,340 jobs, roughly 20 percent of its workforce. The cuts could be announced next week according to the anonymous source.

The news comes as AMD faces a larger decline in sales than expected for the third quarter, a decline of 10 percent from the prior period.

Other media outlets are also predicting large cuts to be announced by the company, although predictions on the exact level differ. CNET reported recently that the company may cut up to 30 percent of its workforce.

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