After the closing bell today, AMD said it would cut 10 percent of its workforce. The decision will touch on all of the company’s sections worldwide. Its cuts were officially intended to refocusing the company on non-traditional areas, such as lower-power chips, cloud-friendly computers, and developing countries.
The company says it will save $10 million from the cuts in the fall and another $118 million in 2012. It appears most of the layoffs would happen in the fall, as it would spend $101 million in restructuring during the season, but just $4 million in 2012.
All of the cuts should be finished by early 2012.
