AMD Cuts 5% of Global Employees
Company hopes to turn around finances after several poor quarters
Jessica Lipsky, EETimes
10/1/2015 07:27 PM EDT
SAN FRANCISCO – Advanced Micro Devices has joined the list of large semiconductor companies handing out pink slips. A recently adopted restructuring plan to help improve poor fiscal results calls for a 5% reduction in the company’s global workforce.
AMD has 9,469 employees as of June 2015 and will cut approximately 470 positions. The restructuring plan will target “all sites, all levels, all functions,” an AMD spokesman said, adding that engineers will represent a smaller portion of layoffs. Cuts will mostly come from sales, marketing, and operations segments.
In the first half of this year, AMD slipped from IHS' top 20 semiconductor vendors list after six consecutive quarterly losses. The company expects to save approximately $9 million in 2015 and $58 million in 2016 following job cuts and restructuring.
E-mail This Article | Printer-Friendly Page |
|
Related News
- Globalfoundries Cuts 5% of Workforce
- Total Revenue of Global Top 10 IC Design Houses for 3Q22 Showed QoQ Drop of 5.3%; Broadcom Returned to No. 2 Spot in Revenue Ranking by Overtaking NVIDIA and AMD, Says TrendForce
- Chinese Companies Hold Only 5% of Global IC Marketshare
- Global Semiconductor Materials Market Sets New High With 5% Expansion in 2020, SEMI Reports
- Samplify's APAX Technology Cuts Memory Power Consumption by 59% During Video Playback on Mobile Devices
Breaking News
- Silicon Creations Reaches Milestone of 10 Million Wafers in Production with TSMC
- Analog Bits to Demonstrate Numerous Test Chips Including Portfolio of Power Management and Embedded Clocking and High Accuracy Sensor IP in TSMC N3P Process at TSMC 2024 North America Technology Symposium
- T2M-IP Unveils Revolutionary MIPI D-PHY & DSI Controller IP Cores with speed 2.5Gbps/lane, Redefining High-Speed Data Transfer and Display Interfaces
- Omni Design Technologies Joins Intel Foundry Accelerator IP Alliance
- Efabless Announces the Release of the OpenLane 2 Development Platform, Transforming Custom Silicon Design Flows
Most Popular
- GUC provides 3DIC ASIC total service package to AI/HPC/Networking customers
- Omni Design Technologies Joins Intel Foundry Accelerator IP Alliance
- Faraday Partners with Arm to Innovate AI-driven Vehicle ASICs
- Semiconductor Capacity Is Up, But Mind the Talent Gap
- Efabless Announces the Release of the OpenLane 2 Development Platform, Transforming Custom Silicon Design Flows