AMD Announces Work Force Reducteron™

Advanced Micro Devices (AMD) was right. It didn’t quietly shed 5% of its work force in mid-March. How could it when it was busy preparing to shed twice that number in April?

This afternoon AMD said it will lay off 10% of its work force, or about 1,600 employees, by the third quarter of 2008 in an effort to cut costs. More ugly news for the company, which said it expects first-quarter revenue of $1.5 billion, about 15% lower than it reported in the fourth quarter.