Layoffs Possible at AMD
Layoffs could be coming this week at Advanced Micro Devices. The chip-maker is based in California but employs 2,500 people here in Austin.
AMD cut 10 percent of its workers last year, more than 300 of them from Austin. Now, reports are that another round of layoffs is in the works. Bloomberg News says at least 10 percent of AMD’s workforce will be cut. Other reports say it could be as high as 30 percent.
Last week AMD warned that it’s having trouble. It’s facing competition from Intel, and a slowdown in sales of the kinds of computers that use its chips.
An AMD spokesman declined to comment this morning, calling the possible layoffs “rumor and speculation.” Any announcement will probably come as part of the company’s quarterly earnings announcement on Thursday.