Another 1,100 AMD employees to get the axe

[Wreckage]

http://www.techreport.com/discussions.x/16245

Intel wasn't the only one to have a bad fourth quarter. Only days before reporting its latest financial results, AMD has announced plans to cut 1,100 jobs worldwide, according to the Associated Press. That's the third time AMD has made layoffs in the past year. 900 of the latest cuts will manifest as straight firings

Ouch, I can only imagine what their financial announcement will be in a few days.

This economy needs a kick in da butt and fast.

 

[OCGuy]

Hopefully they keep all the bright R&D guys, or they are in even more trouble....

 

[IlllI]

wonder if it will be worse than this http://money.cnn.com/2009/01/1...postversion=2009011521

 

[chizow]

Sony posted its second loss, ever. Honestly Intel at this point looks amazing, even with a 90% reduction in profits for this quarter, their profits for the year are like 5 billion.

 

[OCGuy]

Originally posted by: clandren
wonder if it will be worse than this http://money.cnn.com/2009/01/1...postversion=2009011521

Not even close.....key word being "profits".

 

[SickBeast]

AMD will be fine. I'm pretty sure it's normal for people to be laid off after a major product is released.

I know when I used to design buildings, 90% of the architecture firm would be laid off once a major project like a hospital was completed. The only ones they kept were the accountant, secretary, HR, the principal, and the partners (10-15 people, 100-150 people laid off).

 

[OCGuy]

Originally posted by: SickBeast
AMD will be fine. I'm pretty sure it's normal for people to be laid off after a major product is released.

I know when I used to design buildings, 90% of the architecture firm would be laid off once a major project like a hospital was completed. The only ones they kept were the accountant, secretary, HR, the principal, and the partners (10-15 people, 100-150 people laid off).

That would not explain this:

"In addition to the layoffs, the AP writes that remaining AMD staff will suffer temporary pay decreases. CEO Dirk Meyer and Chairman Hector Ruiz will get the largest cuts?20% each?while VPs and "other top management" will see their income drop by 15%, other salaried staff will see 10% drops, and hourly workers will get 5% cuts."

 

[Wreckage]

Originally posted by: SickBeast
AMD will be fine. I'm pretty sure it's normal for people to be laid off after a major product is released.

Uh...no. I don't remember announcements like this when the Athlon XP, AMD64, 9700pro, etc were launched.

It's all tied to profits.

 

[SlowSpyder]

My company postponed our raises for 6 months. My buddy, where he works the cancelled all merit increases for 2009, and no raises for promotions either. I think that a lot of companies are jumping on this bandwagon. Any excuse to save money it seems.

 

[Wreckage]

Just gotta ride the storm out. Hopefully as soon as this years holiday season this forum will be swamped with people buying hardware again.

I hope AMD makes it. They are a good company, although it's good that Hector got a pay cut.

 

[Denithor]

Originally posted by: Wreckage
Just gotta ride the storm out. Hopefully as soon as this years holiday season this forum will be swamped with people buying hardware again.

I hope AMD makes it. They are a good company, although it's good that Hector got a pay cut.

Hector should get a job cut not a pay cut.

 

[TurtleCrusher]

I thought i read somewhere Hector Ruiz stepped down..

I guess i'm wrong..

 

[ViRGE]

He did step down, he's no longer the CEO.