AMD to Layoff 10% of its Employees as Revenue Estimates Lowered
By Chris on Thursday, April 10th, 2008 at 12:37 PM PST In Computer, Game Platforms, Games Industry
The successes of Intel and nvidia have larger ramifications than impacting your buying decisions – AMD has announced that it has lowered its first quarter projections and will be cutting roughly 10% of its workforce by the end of the third quarter. Depending on the particulars, that will be somewhere between 1,600 and 1,700 individuals who lose their jobs.
Revenue for Q1 2008 is now expected to be $1.5 billion, down from the previous estimate of $1.6 billion. According to Ars Technica, that $1.5 billion figure is a 22% increase over the same period last year, but is 15% less than their Q4 figures.
Personally, I just invested several hundred dollars to swap from AMD to Intel in my gaming desktop. It was less than a year ago that I had bought the AMD parts, but anyone in the know will tell you that Intel/Nvidia is the way to go right now.
stuff like this p***es me off.
They still make a rediculous profit, but its not as large a pile of money to swim in and hand themselves in bonuses as they hoped, so poor average joe gets fired instead of the big guys missing out on their bonus this year.
Gotta love the corporate world.
@Kev_M:
While I agree with your sentiments, that’s that capitalism thing that everyone is so fond of.