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AMD cutting 10 percent of workforce
by Staff Writers
New York (AFP) Nov 3, 2011

US computer chipmaker Advanced Micro Devices is slashing 10 percent of its workforce, or about 1,400 jobs, in a cost-cutting move brought on by the weak personal computer market.

The Sunnyvale, California-based AMD said Thursday that the job cuts and other moves should result in more than $200 million in operational savings in 2012.

"Reducing our cost structure and focusing our global workforce on key growth opportunities will strengthen AMD's competitiveness," AMD chief executive Rory Read said in a statement.

AMD said the job cuts will take place globally and will be carried out between now and the end of the first quarter of next year.

The world's second-largest producer of microprocessors for personal computers after US chip titan Intel, AMD has nonetheless been suffering from relatively flat demand for PCs.

According to Gartner, worldwide PC shipments grew 3.2 percent in the third quarter to 91.8 million units, lower than the research firm's projection of 5.1 percent growth.

AMD shares were up 0.52 percent at $5.76 in after-hours trading.

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