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AMD will lay off 10% of workers

Sapo opens laboratory at the University of Aveiro

AMD announced plans to reduce its workforce by 10 percent, a move that is expected to progress through the third quarter of this year and which aims to contribute to the restructuring of the company that for five consecutive quarters has been losing revenue.

The processor maker also announced a downward revision of its first quarter results, which ended March 29, whose sales it now expects to set at $ 1.5 billion. The figure represents a growth of 22 percent compared to the same quarter last year, but a decrease of 15 percent compared to the previous quarter.

The downward revision of the estimates of results and the reduction in the number of workers are measures aimed at responding to a slowdown in the company’s sales in all its segments and in the market itself, as admitted by Intel’s main competitor in a statement.

The number of dismissed employees will be around 1600.

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