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

Things go from bad to worse with AMD, which will cut 500 jobs or around 5% of its global workforce to reduce costs.

@anthony256
Published Thu, Oct 1 2015 8:23 PM CDT   |   Updated Tue, Nov 3 2020 12:03 PM CST

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 announces 5% of its workforce will be laid off to reduce costs | TweakTown.com

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.

NEWS SOURCE:bloomberg.com

Anthony joined the TweakTown team in 2010 and has since reviewed 100s of graphics cards. Anthony is a long time PC enthusiast with a passion of hate for games built around consoles. FPS gaming since the pre-Quake days, where you were insulted if you used a mouse to aim, he has been addicted to gaming and hardware ever since. Working in IT retail for 10 years gave him great experience with custom-built PCs. His addiction to GPU tech is unwavering.

Newsletter Subscription

Related Tags

Newsletter Subscription
Latest News
View More News
Latest Reviews
View More Reviews
Latest Articles
View More Articles