Advanced Micro Devices Inc. said disappointing sales...

Advanced Micro Devices Inc. said disappointing sales will force it to post “sharply reduced” earnings for the third quarter and lay off 1,400 workers at plants in Malaysia and the Philippines. News of the expected lower earnings and layoffs came three days after AMD announced closure of a 290-worker facility at company headquarters in Sunnyvale, Calif., to reduce excess manufacturing capacity. AMD’s stock closed down $1.50 at $9.25 a share on the New York Stock Exchange. In recent weeks, AMD handed out $5.6 million in profit-sharing checks and benefits to employees after recording higher profits for the first half of the year.