AMD Readies Layoffs Amid Weak Earnings Report

(Ping! Zine Web Tech Magazine) – Major layoffs could soon hit popular chip maker AMD, PCMag.com reported on Wednesday.

The measure is expected to occur after the company unveiled relatively weak preliminary quarterly results last Thursday. The chip maker indicated that revenue was anticipated to decline by ten percent in its financial period ending September 29th.

AMD didn’t initially anticipate such a decrease, blaming low utilization of the company’s manufacturing facilities along with weakened demand.

According to PCMag.com’s report, which cited an unnamed source, the company’s downsizing will mostly hit U.S. employees in areas such as chip development, sales and platform engineering.

Earlier this week, competitor Intel announced quarterly revenue amounting to $13.5 billion, a notable decrease compared to earnings posted last year.

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