AMD Reduces Work Force

Advanced Micro Devices Inc. (AMD) said Wednesday it cut 2.6 percent of its employees, or 430 jobs, as part of its cost-cutting strategy after reporting $611 million in first-quarter losses, the San Jose Business Journal reported. (See also: AMD Plans New Plants)

About 40 of the cuts are from AMDs facilities in Sunnyvale, where it is based, and Santa Clara, the article said. AMD will also cut 80 jobs in Austin, Texas, and 50 in Markham, Ontario; most of the cuts are in sales, marketing and administration, it said.

At the end of April, AMD reportedly had 16,823 employees worldwide.

The chipmaker's CEO, Hector Ruiz, told shareholders at an April 26 meeting, "There is no way to sugarcoat our performance in the first quarter."

For more information, visit: amd.com