BREAKING: AMD Lays Off More than 1400 People, About 10% of its Workforce
11/3/2011 by: Theo Valich
We have received information from high-ranked sources that AMD management, lead by the new CEO Rory Read made a massive cleanup operation, laying off around 10-12% of its total workforce.
Today, more than 1400 people received their pink slips, which represents around 10% of its workforce. This is the single largest layoff that the company has made, almost as twice as big as a 5% layoff decided by Hector J. Ruiz back in 2008.
AMD currently employs about 11,800 people, which is considered a high number when compared to the number of products coming out of the company - after all, competing companies employ less people.
While the layoffs are going to perform wonders when it comes to the balance sheet, we have to wonder what is that going to do with competitiveness of the company. We all know that Bulldozer architecture was originally conceived by Fred Weber and his team, known for their work on the K7 (original Athlon) and ultra-successful K8 architecture (Opteron, Athlon 64) - but Mr. Weber and his team left the company for Apple, NVIDIA, Intel, Texas Instruments and various startups in the Silicon Valley.
There is no word yet officially, and we have inquired AMD about the situation. All should be known after the stock markets close for the day.
AMD, Advanced Micro Devices, Rory Read, Bruce Claflin, Thomas Seifert, CEO, CFO, Layoffs, AMD Layoff, AMD Cull, Culling, Hector J. Ruiz, Dirk Meyer, Mubadala Abu Dhabi
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