AMD announces 5% of its workforce will be laid off to reduce costs

Hours after we broke news that AMD might not have the HBM2 game wrapped up, news has broken that AMD will be culling 5% of its global workforce. Around 500 jobs will be lost due to a restructuring process, which is said to streamline AMD's business and reduce costs as the company continues to struggle against Intel, reports Bloomberg.

AMD will record charges of around $42 million due to the restructuring plan, which will outsource some of its IT services and application development. The company will save around $2 million and $7 million in the last two quarters of the year, and a total savings of $58 million in 2016.

While Bloomberg might say this is down to Intel beating the company, AMD is taking an even worse battering from NVIDIA. In the discrete GPU market, NVIDIA controls 82% of the dGPU market share with its GeForce products, leaving AMD with scraps. The new Fiji-based cards powered by the next-generation High Bandwidth Memory seem to be few and far between, with stock not filling shelves, or gamers' PCs.