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AMD Reduces The Workforce. Follows Intel, IBM, Motorola... [11/14/2002 05:46 PM]
by Anton Shilov

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AMD today announced that it will reduce its global workforce by approximately 2000 positions, or approximately 15%, by the end of the second quarter of 2003. Today’s announcement is part of the company’s ongoing strategy to reduce its breakeven point and reduce expenses by $350 million in 2003. Approximately 1000 affected employees were notified today. As previously announced, the company will take a restructuring charge in the fourth quarter of several hundred million dollars. Today’s reduction in work force was implemented across AMD operations in the United States, Europe and Asia.

CEO Hector Ruiz said that the company needs to be restructured in order to gain profitability. Over the next 180 days, AMD plans to unleash a number of intensely competitive products and solutions to the marketplace that will enable AMD to compete in segments of the market where the company have not yet been before. Currently AMD takes the steps it takes in order to solidify the financial position. In fact, loads of high-tech companies reduced the workforce during the last years, so, nothing interesting with AMD here.

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