AMD to lay off 500 workers
times wire services
Advanced Micro Devices Inc. says it’s cutting 500 workers, or 3% of its global staff, to help the struggling semiconductor maker’s effort to return to profitability.
The Sunnyvale, Calif.-based company had deep financial problems before the economy soured.
Product delays and a costly acquisition have contributed to its heavy losses while allowing bigger rival Intel Corp. to gain ground in the computer processor market.
The cuts won’t affect about 3,000 workers in AMD’s manufacturing operations, which are being spun off.
