“AMD plans to slash its workforce by 9 per cent beginning next month, while temporarily reducing wages from its CEO down to hourly workers.
“As a result of the continuing global economic downturn, we have determined that we need to take difficult, but prudent, actions designed to reduce costs,” AMD said in a statement.
Starting February, the chip maker will cut about 1,100 positions through a combination of layoffs, attrition, and the off-loading of the handheld business it inherited through ATI.”
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Source: The Register
According to The Register, AMD will be cutting 1,100 more workers, as well as reducing the wage of anyone who still finds themselves with a job. A lot of these jobs will be in the handheld and TV chip portions of the ATI purchase, which AMD is looking to sell to a nice home. There will also be cutbacks in benefits, such as the companies matching of 401K/RRSP contributions. The news on Thursday, January 22 does not look to be very positive.