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Geekpedia » Tech News » AMD Earnings Drop 15% and Plans 1,650 Layoffs

AMD Earnings Drop 15% and Plans 1,650 Layoffs

On Tuesday, April 8th 2008 at 11:23 PM

By Andrew Pociu (View Profile)

AMD Fab Worker

By fall of 2008, AMD will have laid off 10 percent of its workforce "due to lower than expected sales across all business segments", according to a statement from the company. Even though decreases in revenue were expected for the company, AMD said the sales for the first quarter were of $1.5 billion, which is approximately $.1 billion less than analysts have predicted. On April 17 AMD will release its quarterly earning and will have some explanation to give to its investors and analysts.

AMD's financial troubles have started since the purchase of ATI, which AMD admitted to have lost about 30 percent of its value since the transaction. Delays in releasing the Opteron chip and poor sales on the server market also affected the chipmaker's business.

Intel's prompt release of the new energy efficient processors based on the 45-nanometer technology has left Intel with 76.3% of the x86 processor market, up from 74.4% last year. The strong Intel sales include the new Intel-powered Apple computers, making up for over 4 million processors each year.

According to Forbes.com and Wall Street analysts, people shouldn't count on an AMD comeback unless great effort is put into the already late restructuring process. For the past year AMD has admitted to its financial trouble, but did not take any proper measures against it, according to an analyst in London.

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Current Comments

by Sally on Thursday, April 10th 2008 at 11:32 PM

Let's hope they remain a strong competitor of Intel, otherwise we will see a monopoly over the CPU market very soon.

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